Colombia: Maurel Prom signs new exploration contract for the Llanos area

Maurel Prom, through its wholly owned subsidiary Hocol, have signed with the National Hydrocarbon Agency of Colombia (ANH) a new Exploration and Production Contract (Clarinero) in the Eastern Llanos region, approximately 400km east of Bogota. The Clarinero contract covers an area of 2,298 km squared and is operated on 100% basis by HOCOL S.A. with royalties estimated at 8%.

The Clarinero contract strongly reinforces Hocols position in this region of Colombia, where the company already operates, also on a 100% basis, five other EP contracts (Lince, Saltarín, Cocli, Guarrojo and Sabanero) in the proximity of Clarinero. In one of these contracts (Guarrojo, 100%),

Maurel Prom has announced recently the success in the confirmation of the Ocelote discovery, currently producing with the last well Ocelote-4, 3,100 bopd under long term tests. Hocol is currently producing 14,850 bopd (entitlement), which is 22% above a production of 12,237 bopd in 2007. In the Clarinero contract Maurel Prom is committed to acquire 250 km of 2D seismic, 185 km squared of 3D seismic and drill two exploration wells over the next 22 months.

Publication: Euclid Infotech - Utilities News
Provider: Euclid Infotech
Date: June 13, 2008


Isagen plans hydroelectric plant

Colombia’s state-controlled electricity generator Isagen plans to invest US$1.3bn to build a hydroelectricity plant in the country’s northeast region. The 800-MW facility may take up to 10 years to complete and will be built in the vicinity of Sogamoso, where much of Colombia’s steel industry is based.

Publication: EIU IndustryWire - News Analysis
Provider: Economist Intelligence Unit Limited, the
Date: June 9, 2008


ETB expects to reach 800,000 broadband subscribers within 4 years

Bogotá municipally owned telco ETB expects its broadband subscribers to reach 800,000 within the next four years compared to the current 300,000, company president Fernando Panesso said.

ETB plans to increase its market competition through a massive expansion of the company's client base in both broadband and cable TV segments.

The recently appointed executive also said that the operator's objective is to have 450,000 new broadband subscribers in 2008-09 alone, local paper Portafolio reported.

ETB expects to conduct a pilot test of IPTV in November, Panesso added. The TV service will enable the telco to offer triple play services.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: June 6, 2008