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 ECOPETROL´s Refinery: important opportunity to an equity participation
in a strategic refining location in the Caribbean |
ECOPETROL (Empresa Colombiana de Petróleos) plans to expand
and upgrade its Cartagena Refinery, to increase the refining
capacity from 77 KBPD to approx. 140 KBPD and enhance
the conversion factor.
Ecopetrol is interested in attracting private investment
to the refinery. The total cost of the Project is estimated
at US$800 M.
ECOPETROL has given the advisory mandate for the structuring
of the Project to ABN AMRO and Summatoria (a local investment
bank). It is estimated that the bidding process for investors
and EPC contractors will initiate in the first semester
of 2006.
Colombia´s current refining capacity is about 315
KBPD. The Project should increase this capacity to c.
390 KBPD.
The existing refinery is located on the Colombian Caribbean
Coast and it includes port and terminal facilities. The
increased refined products will be distributed primarily
to the domestic market and will also be exported to the
Caribbean and the United States.
The EPC contractor will have to design and build the expansion,
as well as the modernization of the Refinery and of the
treatment unit. It is possible that the Project may require
a new utilities unit.
Target players include oil and petrochemical companies,
equipment suppliers and industrial service suppliers,
among others.
The estimated time table announced by Ecopetrol defines
the road show to be in mid-year 2005, and the construction
in the years 2006 and 2009.
For more information please refer to www.ecopetrol.com.co
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