Parex is producing less oil after the threats of the Eln in Arauca - Companies

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THE WEATHER / Courtesy

The suspension of operations impacts more than 600 employees and well drilling aircraft.

Due to the closure of operations in the Capachos and Arauca blocks since last January 21 for Threats from the ELN’s eastern war frontCanadian Parex Resources assured that its production will be reduced.

They will go out of production approx. 6,000 barrels of oil equivalent per day (boed). In addition, the rate at which new wells can be drilled and brought online is being affected.

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The suspension of its operations is also impacting more than 600 jobs, including 430 in the local community.

Despite the delicate situation, the company is optimistic and expects to be able to resume full operations during the first quarter of the year in these two blocks, which are located in the department of Arauca.

In 2023, Parex Resources expects to achieve average production between 57,000 and 63,000 boed e invest up to 475 million dollars to continue strengthening its operations in Colombia.

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However, these resources represent a 17.4 percent decrease compared to the maximum investment point for 2022, which was 575 million dollars.

The plans also include the drilling of three large wells (Arauca-8, Chirimoya and Arantes, which, according to the company, have the potential to be new oil and natural gas discoveries and «to be opportunities for transformation.»