Talisman sells stake in Ocensa Colombia oil pipeline

Talisman Energy Inc. affiliates sold their roughly 12% equity interest in the 830-km Oleoducto Central SA (Ocensa) crude oil pipeline in Colombia to an investment group led by Advent International for about $595 million. The sale was part of an 18-month asset disposition effort by Talisman to place $2-3 billion in assets to reduce debt. This effort also included last month’s sale of a majority of the company’s Montney shale assets for $1.5 billion (Can.).

Other Talisman affiliates will retain crude transportation rights on Ocensa totaling about 63,000 b/d. Talisman will use these rights to transport proprietary crude, generating third-party revenue from surplus capacity.

Total Colombia Pipeline (affiliates of Total SA) and Compania Espanola de Petroleos SA (CEPSA) also sold the Advent-led investment group their roughly 5% holdings in Ocensa, leaving it with a combined 22% shareholding in the pipeline. Total sold CEPSA its 5% share last year, selling another 5% to Petrominerales at the same time before divesting its remaining balance with this transaction (OGJ Online, Feb. 8, 2012).

Ocensa starts at the Cusiana and Cupiagua fields and ends on Colombia’s Caribbean coast at the port of Covenas, carrying 560,000 b/d of Llanos-basin crude.

Related Articles

Separate Murkowski bill addresses crude exports, OCS revenue sharing

07/24/2015 US Senate Energy and Natural Resources Chair Lisa Murkowski (R-Alas.) introduced legislation that would end the ban on US crude oil exports, and es...

OGUK updates guidelines for well abandonments

07/23/2015

Oil & Gas UK has released updated guidelines for abandonment of wells, including cost estimates.

MARKET WATCH: Oil futures plunge below $50/bbl

07/23/2015

Light, sweet crude oil futures prices plunged lower to settle below $50/bbl on the New York market on July 22.

Cornyn calls for more US energy exports in wake of Iran deal

07/23/2015 US Senate Majority Whip John Cornyn (R-Tex.) said it would be geopolitically, economically, and strategically absurd for the US to maintain outmode...

Post-sanctions Iran initially won’t shake markets up, executive says

07/22/2015 Iran’s resumption of oil and gas exports, once sanctions are lifted under the recently negotiated nuclear limits agreement, probably won’t flood gl...

UAE easing gasoline, diesel price controls

07/22/2015

The United Arab Emirates is moving prices of gasoline and diesel toward deregulation effective Aug. 1.

BC bill advances Pacific Northwest LNG

07/22/2015 The British Columbia legislature has passed a controversial bill enabling the proposed Pacific Northwest LNG export project to advance (OGJ Online,...

Excelerate FSRUs complete LNG transfer at Pakistan terminal

07/22/2015 Excelerate Energy LP, The Woodlands, Tex., reported the completion of the first ship-to-ship (STS) transfer of LNG at the Engro Elengy LNG terminal...

MARKET WATCH: NYMEX crude oil prices gain on expected weekly supply decline

07/22/2015 Light, sweet crude oil prices settled modestly above $50/bbl on the New York market on July 21, gaining support from a stronger dollar and from exp...
White Papers

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by
Available Webcasts

On Demand

OGJ's Midyear Forecast 2015

Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Predictive Analytics in your digital oilfield - Optimize Production Yield and Reduce Operational Costs

Tue, Jul 7, 2015

Putting predictive analytics to work in your oilfield can help you anticipate failures, plan and schedule work in advance, eliminate emergency work and catastrophic failures, and at the same time you can optimize working capital and improve resource utilization.  When you apply analytic capabilities to critical production assets it is possible to reduce non-productive time and increase your yield.

Learn how IBM's analytics capabilities can be applied to critical production assets with the goal of reducing non-productive time, increasing yield and reducing operations costs.

register:WEBCAST


Cognitive Solutions for Upstream Oil and Gas

Fri, Jun 12, 2015

The oil & gas sector is under pressure on all sides. Reserves are limited and it’s becoming increasingly expensive to find and extract new resources. Margins are already being squeezed in an industry where one wrong decision can cost millions. Analyzing data used in energy exploration can save millions of dollars as we develop ways to predict where and how to extract the world’s massive energy reserves.

This session with IBM Subject Matter Experts will discuss how IBM Cognitive Solutions contribute to the oil and gas industry using predictive analytics and cognitive computing, as well as real time streaming for exploration and drilling.

register:WEBCAST


The Alternative Fuel Movement: Four Need-to-Know Excise Tax Complexities

Thu, Jun 4, 2015

Discussion on how to approach, and ultimately embrace, the alternative fuel market by pulling back the veil on excise tax complexities. Taxes may be an aggravating part of daily operations, but their accuracy is crucial in your path towards business success.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected