Colombia's Ecopetrol will not extend Pacific Rubiales oilfield contract: source

Fri Mar 13, 2015 4:16pm EDT
 
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BOGOTA, March 13 (Reuters) - Colombia's state-run oil company Ecopetrol will not extend the contract Toronto-listed Pacific Rubiales has to operate Campo Rubiales, the country's highest-producing oilfield, an Ecopetrol source said Friday.

Under the contract, set to expire in the first half of 2016, Ecopetrol has rights to 60 percent of the production at the oilfield, while Pacific takes the remaining 40 percent.

(Reporting by Carlos Vargas; Writing by Julia Symmes Cobb; Editing by Meredith Mazzilli)