Acquisition of all OCP Ecuador shares
Pampa Energía release
Buenos Aires, August 30, 2024. Pampa Energía S.A. (‘Pampa’ or the ‘Company’; NYSE: PAM; ByMA: PAMP) announces the closing of the indirect acquisition of 36% of the share capital and voting rights of Oleoducto de Crudos Pesados Ecuador S.A. (‘OCP Ecuador’), a company in which Pampa already held 64% of the share capital. With this transaction, Pampa becomes the sole owner of OCP Ecuador and will begin to consolidate the company in our financial statements. The transaction amounted to US$23 million.
OCP Ecuador is the concessionaire of Ecuador’s main private oil pipeline, which extends over 485 kilometers. This pipeline crosses the Andes and connects the productive Amazon region with the maritime terminal at the port of Balao. This infrastructure was developed as a private initiative in 2001, with an initial investment of over US$1.4 billion under a 20-year concession.
Currently, OCP Ecuador transports an average of 150 thousand barrels of Ecuadorian oil daily, which represents approximately 30% of the country’s crude oil, in addition to 10 thousand barrels of oil per day from Colombia. In July 2024, the pipeline loaded more than 210 thousand barrels per day.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Oil & Gas (Ecuador)
Peru roundup: Refinery call, offshore exploration, LNG green light
A review of hydrocarbon sector developments in the Andean nation.
Tech revamp planned for Ecuador oil pipeline
The country's national oil company highlights SOTE's outdated control infrastructure.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: Oil & Gas (Ecuador)
Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Bloque 86
- Current stage:
- Updated:
2 weeks ago
- Project: Bloque 84
- Current stage:
- Updated:
2 weeks ago
- Project: Modernization, Expansion and Comprehensive Operation of the Esmeraldas Refinery and Implementation of the High Conversion Process
- Current stage:
- Updated:
3 weeks ago
- Project: Block 46-MDC (Mauro Dávalos Cordero)
- Current stage:
- Updated:
2 months ago
- Project: Field Guanta Dureno
- Current stage:
- Updated:
2 months ago
- Project: Block Perico (Intracampos I round)
- Current stage:
- Updated:
2 months ago
- Project: Field Tambococha
- Current stage:
- Updated:
2 months ago
- Project: Blanca-Vinita field
- Current stage:
- Updated:
2 months ago
- Project: Sacha Field (Block 60)
- Current stage:
- Updated:
2 months ago
- Project: Yuralpa field
- Current stage:
- Updated:
2 months ago
Other companies in: Oil & Gas (Ecuador)
Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Grupo Noroccidental
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Flota Petrolera Ecuatoriana (FLOPEC)  (FLOPEC)
-
Ecuador's Flota Petrolera Ecuatoriana (Flopec) is a state-owned company engaged in transporting oil and gas by sea to national and international ports. Founded in 1972, Flopec d...
- Company: Worley Ecuador
- Company: Gobierno de la República del Ecuador
- Company: Masgas S.A.  (Masgas)
- Company: RPS Energy Ltd.
- Company: Cetagua S.A.  (Cetagua)