A consortium of Ecopetrol and Talisman will buy BP’s oil and gas exploration, production and transportation business in Colombia for $1.9bn.
The firms will pay BP for 100% of the shares in BP Exploration Company, Colombia (BPXC), the subsidiary that holds its oil and gas exploration, production and transportation interests in Colombia.
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BPXC assets include interests in five producing fields in four association contracts and four separate pipeline interests.
The assets also include two offshore exploration blocks.
Net-proved reserves total some 60 million barrels of oil equivalent (boe) and BPXC’s net production is about 25,000 boe a day.
BPXC has interests in and operates the Tauramena (BP interest 31%), Rio Chitamena (31%), Recetor (50%) and Piedemonte (50%) association contracts, which will expire between 2016 and 2020.
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By GlobalDataProducing fields on the licences include the Cusiana oil and gas field, and the Pauto and Florena fields.
The sale is part of BP’s plan to divest up to $30bn of assets over the next 18 months.
