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Rubiales Field Contract not extended

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Oilfield Technology,

Pacific Rubiales Energy Corporation and Ecopetrol, S.A. have announced that they have agreed not to extend the Rubiales and PirirĂ­ Field Association Contracts, expiring in June 2016.

Ecopetrol will evaluate different alternatives for the operation of the Rubiales Field. Meanwhile, Pacific Rubiales will consider submitting a new proposal to operate the field after the contract expiry. The companies have expressed interest in developing further business opportunities for the benefit of both parties and the country.

Adapted from press release by Joseph Green

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