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The interruptions of the pipeline have not yet affected production in the Caño Limón oilfield since Ecopetrol has found alternatives.
Terrorist attacks against the oil infrastructure destroy the environment. Ecopetrol
Frontera Energy Corp. decided that this is enough. It ended a contract to send crude oil to the Colombian oil pipeline Caño Limón-Covenas, which remained inactive for more than six months due to terrorist attacks. The end highlights the risks that continue to affect the country's oil sector despite the ongoing peace talks.
Frontera had agreed to transport 47,333 barrels a day in the pipeline until 2028, paying US $ 3.09 per barrel to the owner of the company Cenit a subsidiary of the state company Ecopetrol. The Colombian company was forced to close the 480-mile (772-kilometer) pipeline, which transports crude oil from the fields near the border with Venezuela to coastal ports of the United States. Caribbean, due to several criminal group attacks. (See also The Caño Limón oil pipeline has been shut down for two months and is slowing down oil production ).
Oil pipeline interruptions have not yet affected production in the Caño Limón oil field transporting crude oil, said Jaimin Patel, an badyst at Bloomberg Intelligence. "Additional attacks, depending on their frequency and severity, could significantly change things," he said.
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