Parex steps up plans for US$1bn Onca project in Colombia

Parex Resources has submitted an environmental impact assessment (EIA) for its Onca oil and gas development in Colombia's eastern Llanos basin.

Investment in the project – earmarked for the San Luis de Palenque, Trinidad and Nunchía areas of eastern Casanare department – is seen reaching 4.6tn pesos (US$1.14bn), according to documents seen by BNamericas.

The figure includes E&P activities and the construction of associated infrastructure. 

Parex has said it plans to invest US$410mn in Colombia this year, down 15% on its 2023 outlay. Capital spending will focus on 35 new wells, including five exploration prospects.

OTHER DEVELOPMENTS

Cenit, the transport arm of state-run company Ecopetrol, presented an EIA for a proposed gas and liquids pipeline in the northern city of Barrancabermeja. The infrastructure is seen requiring investment of around US$9mn.

In the electric power sector, a Chinese consortium is moving ahead with plans for a 100MW solar park in southern Colombia. China Power Engineering Consultants Group Investment and Tianjin Electric Power Construction jointly lodged an EIA for the project.

Earmarked for the southern department of Huila, the complex is expected to require investment of 287bn pesos. 

Elsewhere, Celsia submitted an EIA for its 230kV Pacífico substation and associated power lines in the western port city of Buenaventura.

The project is expected to require investment of 67.5bn pesos.