OREANDA-NEWS. April 15, 2014. Zhang Wei, Vice President of Sinochem Group and General Manager of Sinochem Petroleum Exploration and Production Co., Ltd.(Sinochem E&P), met with the delegation led by President Javier Betancourt, Vice President Nicolas Mejia and Senior Technical Advisor Luis Ardila of ANH in Beijing.

The two sides exchanged opinions on common concerns such as block tendering in Colombia in 2014, Colombia’s political security and economic development, voicing the common wishes to cement communication and cooperation.

During the conversation, Zhang stressed Sinochem Group has been attaching great importance to its assets operation and business development in Colombia since 2000s as a key oil & gas investor in Colombia. He hoped the two sides would maintain communication and cement cooperation to achieve win-win development.

Javier Betancourt said ANH similarly paid its most attention to the good relations with Sinochem Group, pledging that Colombia would be committed to further improving its investment environment to provide stronger support to the enterprise, and hoping that the two sides would keep broadening cooperation fields.

In 2009, Sinochem Group took over Emerald, acquiring the stakes of 8 blocks in Colombia as its first onshore oilfield operator project. Subsequently, Sinochem Group’s upstream oil & gas business in Colombia continued growing steadily, with its project output and reserves witnessing constant increase. In 2012, Sinochem Group took over Tempa, acquiring part of the stakes in the ODC and OAM pipelines and part of the stakes in Cusina Oilfield. In 2013, Sinochem Group acquired the stakes in 3 new exploration blocks in Caqueta. So far, Sinochem Group has had 10 operator blocks and 2 non-operator blocks in Colombia, with a daily output of 8,000 barrels.