Offshore staff
(Colombia)- Chevron is reportedly nearing the completion of drilling on its third well in the Chucupa and Ballena fields offshore Colombia's Guajira department.
Chevron Colombia President David Bantz says that as a result, the company will be able to increase production on the fields to 600 MMcf/d from its current level of 420 MMcf/d.
Chevron has other plans in the works in Colombia. The company will reportedly invest some $110 million to increase gas production and $150 million to expand gas export operations.
Construction of a natural gas pipeline connecting Colombia and neighboring Venezuela is due to begin in July 2006, through which Colombia will provide gas for 5-7 years until the flow is reversed.
Venezuela requires 150 MMcf/d to meet the demand of power plants that currently use diesel.
06/30/2006
