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Amerisur signs agreement for construction of the Ecuador-Colombia interconnector pipeline


Published Jun 15, 2015
Amerisur Resources

Amerisur Resources has signed an agreement with PETROAMAZONAS EP, the Operator of the Cuyabeño gathering system and the wider Amazonas pipeline network, for the construction and use of the pipeline from the Ecuadorian border to the point of connection with the RODA gathering system for the transport of Amerisur's crude oil.

Highlights: •Agreement signed with PETROAMAZONAS EP which permits the construction and use of the pipeline from the Ecuadorian border to the point of connection with the RODA gathering system. •Minimum transport volume commitment by PETROAMAZONAS EP to Amerisur of 5,000 BOPD. •Transport tariff from the point of reception to the point of delivery at Lago Agrio set at US$1.09 per bbl. •Modification of the PETROAMAZONAS EP environmental permit to allow construction from location VHR 20 to the river Putumayo is underway. •Civil works within the Victor Hugo Ruales central processing station will commence in the next few days and pipeline and system control construction will begin imminently. •A number of options for onward transport and commercialization of Amerisur oil from Lago Agrio to the port of Esmeraldas are currently being evaluated. •The Company expects the pipeline to be in operation in Q4 2015.

The Company has signed an agreement with PETROAMAZONAS EP entitled 'Convenio de Cooperacion para el Uso de la Red de Oleoductos del Distrito Amazonico' which permits the construction and operation of the 10' (nominal - 10.8' physical) pipeline from the Ecuadorian border to the point of connection with the RODA gathering system for the transport of Amerisur's crude oil. In addition the agreement includes the definition of construction and responsibilities during use of the system, a minimum volume commitment and transport tariffs applicable to Amerisur crude oil.

Tags: Amerisur Resources Plc




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