Colombia’s state oil firm Ecopetrol (NYSE: EC) hopes to begin first phase operations at its US$1bn, 120,000b/d Oleoducto Bicentenario (OBC) pipeline early next year, according to the firm’s transport and logistics VP Бlvaro Castaсeda.

“We plan to begin construction this year, and hope to start works in the next month or so. We hope that early startup operations could begin in the 1Q12,” Castaсeda told reporters on the sidelines of the BNamericas Andean Energy Summit in Bogotб.

Ecopetrol has previously said it hoped to have the project completed before the end of this year, however, delays in receiving necessary environmental permitting have held the project back.

The 960km, Casanare-Coveсas pipeline will have an eventual capacity of 450,000b/d, with construction to be carried out in four separate phases. Ecopetrol has a 55% share in the project, designed to ease recent transport bottlenecks experienced by oil producers operating in the prolific Llanos basin.

Several Canadian oil firms also have interests in the pipeline’s first phase including Pacific Rubiales (TSX: PRE) and C&C Energia (TSX: CZE).

OCENSA

Calgary-based Petrominerales (TSX: PMG) announced earlier this week that it had closed a previously announced deal to acquire a 5% interest in Colombia’s Ocensa pipeline from France’s Total (NYSE: TOT) in a deal worth US$281mn.

Petrominerales will hold a capacity share of 25,000b/d in the pipeline following the deal, and plans to begin shipments from early September.

Ocensa runs from the Cusiana and Cupiagua fields in the Llanos basin to the port of Coveсas. The pipeline has a capacity of 560,000b/d, accounting for around 60% of total Colombian oil production.

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