On 24 June 2016, Colombia's national oil company, Ecopetrol, launched a bid round for 20 of its minor onshore fields. This follows the region's other national oil companies, including Petrobras, YPF and Pemex in the divestment of non-core assets in a low oil price environment. This divestiture is part of an initiative to exercise capital discipline and reduce costs after Ecopetrol's near 40% 2016 capital budget cut. We see this as the company's first step in rationalising its portfolio as it pursues a US$400-900 million divestment target over 2016/2017.
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Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity PDF - 1.57 MB 9 Pages, 4 Tables, 5 Figures
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Insight | Jul 2016
Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity
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