Colombia regulator fines Odebrecht, consortium members $85 mn

Colombia’s commerce regulator has issued fines worth a total of 295.1 billion pesos ($84.5 million) against members of a consortium led by Brazilian construction firm Odebrecht for breaking competition rules. Odebrecht, Corficolombiana and Episol used an “anticompetitive system” to guarantee a contract was awarded to Concesionaria Ruta del Sol, the Superintendency of Industry and Commerce (SIC) said.

First fracking pilot project signed in Colombia

The Colombian National Hydrocarbons Agency (ANH) and Ecopetrol signed the contract to carry out the first fracking pilot project in Colombia, called the Kale Research Project, located in the Middle Magdalena Valley. The Kale project will become the first fracking pilot to be developed in Colombia in order to assess whether or not the country can produce and commercialize hydrocarbons extracted from unconventional deposits. In total, there are four fracking pilots that will be developed in Colombia and would bring investments of more than $ 400 million. Three of the four projects will be carried out in the Middle Magdalena Valley basin and will be operated by Ecopetrol, ConocoPhilips and ExxonMobil, while the fourth initiative will be developed in the Cesar-Ranchería basin (La Guajira) by the Drummond company.

Colombian power project pipeline hits 16GW

Energy ministry planning unit UPME has 322 active projects in its registry with combined capacity of 16.02GW. Solar accounts for 218 projects totalling 7.77GW, hydropower 76 projects (3.47GW), wind 20 projects (3.16GW), thermal six projects (1.60GW) and biomass two projects (25MW). Some 9.03GW are the subject of initial feasibility studies while 6.93GW are in the permitting phase and 60MW in the final development stage. The 1,140MW Nencol 5 thermoelectric station in the Caribbean coastal city of Santa Marta remains the biggest project in UPME's registry, followed by the 800MW Micay hydroelectric plant. Next is the the 700MW Sebastosol solar complex, the 648MW La Paz hydropower dam, the 600MW Cuestecitas solar park and the 500MW Kappa wind complex.

Shell Completes Acquisition of Offshore Blocks in Colombia

Colombian oil and gas company Ecopetrol has informed that Shell has completed the previously agreed acquisition of 50 percent interest in three Colombian deepwater oil and gas blocks. The two companies signed an agreement in February which entailed Shell acquiring a 50% operating-stake in the Fuerte Sur, Purple Angel, and COL-5 offshore blocks located in the Colombian Caribbean deepwater, where a new gas province was discovered including the Kronos (2015), Purple Angel and the Gorgon (2017) wells.