Ecopetrol Oil Refinery in Cartagena, Colombia

Ecopetrol Oil Refinery in Cartagena, Colombia

Paul Smith/Bloomberg

Pacific Rubiales Energy Co., is negotiating with the Colombian government over the fate of its largest field once its license ends in 2016. Politicians have advocated returning the deposit to state-controlled Ecopetrol SA, with which Pacific has proposed sharing some production in the future.