Pacific Rubiales says hits 100,000 bpd in Colombia

Fri Oct 23, 2009 6:54pm BST
 
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BOGOTA, Oct 23 (Reuters) - Canada's Pacific Rubiales Energy (PRE.TO) has reached 100,000 barrels per day in production in Colombia with an increase in output at a field operated with state oil company Ecopetrol, the company said on Friday.

After increasing output from 72,000 bpd, the company is producing about 16 percent of crude in the country, which is enjoying a "mini-boom" in oil investment since President Alvaro Uribe cracked down on the country's long rebel insurgency.

The production increase was mainly due to growth in its Rubiales and Piriri blocks, the opening of its Llanos Orientales or ODL pipeline and output from exploratory wells in the Quifa Block, the company said in a statement.

Pacific Rubiales said in October it had found oil at its Quifa-10 well without giving a precise production there.

Colombia, increasingly a key petroleum producer in Latin America, expects its production to reach 1 million barrels per day before 2015 and its output should hit 800,000 bpd within one or two years, the government says. (Reporting by Nelson Bocanegra; Writing by Patrick Markey in Bogota; Editing by Christian Wiessner)

 

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