Amerisur announces PETROAMAZONAS crude deal

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, has annoucned that it has signed an agreement with PETROAMAZONAS EP, the Operator of the Cuyabeño gathering system and the wider Amazonas pipeline network, for the construction and use of the pipeline from the Ecuadorian border to the point of connection with the RODA gathering system for the transport of Amerisur's crude oil.

The company has signed an agreement with PETROAMAZONAS EP entitled 'Convenio de Cooperacion para el Uso de la Red de Oleoductos del Distrito Amazonico' which permits the construction and operation of the 10 in. pipeline from the Ecuadorian border to the point of connection with the RODA gathering system for the transport of Amerisur's crude oil. In addition the agreement includes the definition of construction and responsibilities during use of the system, a minimum volume commitment and transport tariffs applicable to Amerisur crude oil.

The minimum transport volume guaranteed by PETROAMAZONAS EP to Amerisur is 5000 bpd of oil. The transport tariff from the point of reception to the point of delivery at Lago Agrio is US$1.09/bbl.

Amerisur is now initiating operations in the field, beginning with civil works within the Victor Hugo Ruales (VHR) central processing station which is expected to take three weeks. Concurrently, pipeline and system control construction works will begin imminently.

Amerisur is currently evaluating a number of offers and options for onward transport and commercialization of its oil from Lago Agrio to the port of Esmeraldas.

The company expects the pipeline to be in operation in 4Q15.

Edited from various sources by Elizabeth Corner

Sources: Oil VoiceProactive Investors

Published on 15/06/2015


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