Roundup: Bahamas Petroleum, EEB-TGI, Petroecuador

Bahamas Petroleum reported it would focus on farm-out efforts through year-end to finance the company's first well.

"The key constraint for companies visiting the data room is the obvious lack of any tangible progress by the government with regard to producing modernized and strengthened petroleum regulations as promised," the junior said in its latest interim report.

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Colombian energy group EEB disbursed US$634mn through Inversiones en Energía Latino América Holdings to complete acquisition of a 31.9% stake in local natural gas transporter TGI.

The financing came from a long term syndicated loan with BBVA, Itaú and Scotiabank, EEB said in a statement.

In a separate release, EEB said current TGI president Ricardo Roa Barragán will replace Sandra Fonseca Arenas as EEB president.

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State oil company Petroecuador awarded the army's engineering corps a three-year US$29mn contract to maintain the SOTE pipeline, the country's principal crude transport system.

The NOC previously invited the military unit under a special procurement call to provide the service.

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.