Pacific Rubiales May Get Environment Permit by October
The decision on exploration and production at the CPE-6 block in eastern Colombia is pending additional information, which the company expects to submit next week, said Luz Helena Sarmiento, director of the National Environmental Licensing Authority, in an interview today in Bogota.
Pacific Rubiales expected an environmental license for the block as soon as August, Chief Executive Officer Ronald Pantin said Aug. 10.
Shares (PREC) of Pacific Rubiales slid 6.1 percent to 44,780 pesos at the close in Bogota. Shares of Talisman Energy Inc. (TLM), which also owns part of the CPE-6 block, slid 1.5 percent to C$14.35 in Toronto.
The regulator is also awaiting additional information for a water permit for Rubiales, Colombia’s top oil field, Sarmiento said. Pacific Rubiales operates the Rubiales field, in which state-run Ecopetrol SA (ECOPETL) also holds a stake.
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