Colombia’s state-run oil firm Ecopetrol has hired Doris Inc. for the provision of Consulting Engineering Services.
The scope includes including studies, engineering, and support during the execution of offshore oil and gas developments.
The contract is for a five-year period. Doris did not provide the financial details on the deal.
Worth noting, Ecopetrol last Friday raised its spending plan for the year to between $3 billion and $3.4 billion despite low crude oil prices.
According to Reuters, the company had initially planned to invest up to $5.5 billion this year but later lowered the figure twice, down to between $2.5 and $3 billion, as oil producers reeled from a price crash and fall-out from the coronavirus epidemic.
Of the $3.4 billion set aside for spending, 78% is anticipated to be focused on exploration and production projects, “prioritizing those providing the greatest contributions towards reserves and production and continuing to invest in enhanced recovery technologies,” Ecopetrol said.
The plan calls for investments in gas of more than USD$130 million, highlighting the Piedemonte field’s development and the maturity of the offshore gas discoveries in the Colombian Caribbean. Additionally, it foresees investments of over USD$140 million in areas such as decarbonization, renewable energy, and the management of water from operations.