Page 19 - LatAmOil Week 23 2020

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The rig completed the Clarinete 5 development industry transitions to a more decarbonised and a portfolio of premier Colombian oil assets that
well, which has now been tied into permanent digitised business over the next decades. are under-exploited, under-explored and offer
production. The Clarinete-5 well finished drill- “We believe in open innovation and its power high potential growth. The Company’s business
ing in March 2020 and encountered 309 feet for strengthening our digital ecosystem. For plan is to expand oil production from some of
(94.18 metres) true vertical depth of net gas this reason, we seek alliances with companies Colombia’s most active basins, including the
pay within the primary Cienaga de Oro (CDO) and organisations in Colombia and all over the Llanos, Middle Magdalena Valley (MMV) and
sandstone reservoir, which represents the thick- world. Today we have challenges that require Putumayo Basin.
est gas pay section of any well drilled in the clever ideas and innovative solutions. This alli- The asset base is predominantly operated
history of Canacol. The CDO reservoir was per- ance with Plug and Play represents the possibil- with high working interests, and the Brent-
forated between 8,430-8,631 feet (2,569-2,631 ity of expanding our options to reach the best linked light oil pricing exposure combines with
metres) measured depth and tested at a final developments,” said Felipe Bayón, Ecopetrol’s low royalties to yield attractive potential oper-
rate of 43mcf per day with a tubing head flowing President. ating margins. Arrow’s seasoned team is led by
pressure of 1,850 psi and a final choke of 0.8 inch “We are incredibly thrilled to be able to part- a hands-on and in-country executive team sup-
over a test period of 8 hours. ner with Ecopetrol in their digital transforma- ported by an experienced board.
The rig is currently being mobilised to the tion journey. Latin America is a great place for Arrow Exploration, June 09 2020
Pandereta 8 development location, with antici- growing and developing disruptive technologies.
pated spud in the third week of June 2020. The This partnership is creating effective channels for
Pandereta 8 well is anticipated to take approxi- startups around the world to collaborate with INVESTMENT
mately five weeks to drill and complete. Ecopetrol and have access to industry expertise
Canacol is an exploration and production in the region,” said Wade Bitaraf, Founder of the Petrobras on stakes
company with operations focused in Colombia. Energy platform at Plug and Play.
Canacol, June 03 2020 This commitment to open innovation is part in power generation
of Ecopetrol’s innovation and technology strat-
egy, which seeks to create value by strengthen- companies
COMPANIES ing its digital ecosystem through alliances with
entrepreneurship centers in Colombia and the A Petrobras informs that it has started the oppor-
Ecopetrol taps power around world. tunity disclosure stage (teaser), regarding the
Through this partnership, Ecopetrol will sale of its stakes in five power generation compa-
of global innovation have the opportunity to work one-on-one with nies: Brasympe Energia (Brasympe), Energética
Suape II (Suape II), Termoelétrica Potiguar
hand-selected startups to discover and imple-
during time of crisis ment new technologies for their business. (TEP), Companhia Energética Manauara
Ecopetrol is the largest company in Colom-
(CEM) and Brentech Energia (Brentech).
Plug and Play and Ecopetrol signed a partner- bia; it is a comprehensive oil chain company, one The teaser, which contain key information
ship to help address future challenges within the of the 40 largest oil companies in the world, and about the assets, as well as the eligibility criteria
energy industry, focusing on sustainability, prof- one of the top four in Latin America. In addi- for selection of potential participants, are avail-
itable growth, and digitisation of its value chain. tion to Colombia, where it generates more than able on the Petrobras website. The main subse-
Plug and Play is a global innovation platform. 60% of domestic production, it has exploration quent stages of the sales process will be informed
It connects startups to corporations and invests and production activities in Brazil, Peru and the in due course to the market.
in over 250 companies every year. Since its incep- United States (Gulf of Mexico). Ecopetrol owns Petrobras owns 20% of Brasympe, which in
tion in 2016, their programmes have expanded the largest refinery in Colombia, most of the turn owns 60% of Termocabo, which owns a fuel
worldwide to over 30 locations globally, giving country’s oil and pipeline network and is signif- oil-fired thermoelectric plant located in Pernam-
startups the necessary resources to succeed in icantly increasing its participation in the biofuel buco, with an installed capacity of 49.7 MW.
Silicon Valley and beyond. sector. Petrobras owns 20% of Suape II, which owns
Today the Colombian company announced Plug and Play, June 10 2020 a fuel oil-fired thermoelectric plant located in
its partnership with Plug and Play to continue Pernambuco, with an installed capacity of 381.25
fostering its history of innovation as the energy MW.
FINANCE Petrobras holds 20% of TEP, which is a hold-
ing company with a 60% stake in Companhia
Arrow Exploration says no Energética Manauara (CEM) and 70% in Areia
Energia and Água Limpa Energia, owners of
material change driving small hydroelectric plants, located in Tocantins,
with installed capacity of 11.4 MW and 14 MW
higher trading volumes respectively.
Petrobras holds 40% of the CEM, which has
At the request of IIROC, Arrow Exploration a bi-fuel (diesel and natural gas) thermoelectric
wishes to confirm that the Company’s manage- plant located in Amazonas with 85.4 MW of
ment is unaware of any material change in the installed capacity.
Company’s operations that would account for Petrobras owns 30% of the Brentech, owner
the recent increase in market activity. of the Usina Termelétrica Goiânia II diesel-pow-
Arrow Exploration, operating in Colombia ered, located in Goiás, with an installed capacity
via a branch of its 100% owned subsidiary Car- of 140.3 MW.
rao Energy, is a publicly-traded company with Petrobras, June 05 2020

Week 23 11•June•2020 www. NEWSBASE .com P19