12th Jun 2015 07:44
LONDON (Alliance News) - Amerisur Resources PLC Friday said it has signed a deal with Petroamazonas EP, the Ecuadorian state-owned operator of the Amazonas pipeline network, to permit the construction and use a pipeline from the Ecuadorian border to transport its crude oil.
The pipeline will span from the Ecuadorian border to the point of connection with the Amazonas pipeline network gathering system.
The minimum transport volume guaranteed by Petroamazonas to Amerisur is 5,000 barrels of oil per day. The transport tariff from the point of reception to the point of delivery is USD1.09 per barrel, Amerisur said.
Amerisur said pipeline and system control construction works will begin imminently, and it is confident the pipeline will be in operation by the fourth quarter of 2015. It is currently evaluating offers and options for the transport and commercialisation of its oil.
"Today's news is a very significant step forward as we progress the interconnector pipeline, and we are delighted with the support shown in both Ecuador and Colombia towards the project," said Chairman Giles Clarke in a statement.
Shares in Amerisur are trading up 9.4% at 36.10 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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