This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Wood Group Mustang Completed Concept Study On Ecopetrol's Oleoducto Del Pacifico Initiative

HOUSTON, Nov. 13, 2012 /PRNewswire/ -- Wood Group Mustang recently completed the Phase 1 concept study for Ecopetrol's Oledocucto del Pacifico initiative.  The initiative is a new Colombian pipeline to transport crude from the oil-rich Llanos, Caguan & Putumayo basin of eastern Colombia across the Andes Mountains to either Tumaco, in Nariño province or Buenaventura, in Valle del Cauca province, Colombia's two largest Pacific ports. This pipeline is expected to be more than 1,550 miles (2,500km) long with multiple pumping stations and storage terminals on the Pacific coast.

(Logo: http://photos.prnewswire.com/prnh/20120426/MM95878LOGO)

As Colombian oil & gas production hits historic record levels, heavy crude makes up roughly 60 per cent of the country's output. This will be Colombia's first pipeline to focus on the Pacific region rather than Caribbean ports and will substantially increase Colombia's oil exports to Asian markets, which are experiencing unprecedented growth in crude demand. The highly specialized and integrated team created to conduct the study included engineers from Energeticos, Wood Group Mustang's Bogota-based engineering business, and sister Wood Group company, J P Kenny, to deliver the first phase of this initiative in record time and under-budget.

"Wood Group Mustang is excited to have assisted Ecopetrol with the first phase of this pipeline initiative. Our full-service pipeline engineering and field services will provide excellent support for Ecopetrol in any future phase of the initiative," said Steve Knowles, president of Mustang.

Wood Group Mustang has completed numerous pipeline projects focused on improving integrity, safety and increasing crude production for Ecopetrol and has also provided conceptual engineering services for its downstream petrochemical operations.

Wood Group Mustang, which comprises Mustang, Alliance Engineering, IMV Projects and Energéticos, is a global project management, engineering, procurement, and construction operations business serving the upstream oil & gas, refining & chemicals, pipeline, automation & control, and industrial markets.  It has offices in the United States, Latin America, Canada, United Kingdom, India, Malaysia, West Africa and the Middle East.  For more information, visit www.mustangeng.com.

Energéticos, part of the Wood Group Mustang family of companies, is a Colombian engineering company with more than 35 years of experience on oil & gas, petrochemical and industrial projects. Energéticos, with almost 900 employees, has over 420 engineering specialists in various disciplines providing high-quality engineering services for clients across Latin America.

Wood Group is an international energy services company with $6.bn sales, employing more than 41,000 people worldwide and operating in 50 countries. The Group has three businesses – Engineering, Wood Group PSN and Wood Group GTS - providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas and power generation industries worldwide. www.woodgroup.com

Ecopetrol is the principal petroleum company in Colombia, as well as its largest corporation. The company has at least 50 percent ownership in all oil producing fields in Colombia as well as two refineries, ports for fuel exports on both Atlantic and Pacific coasts and a transportation network of more than 8,000 km of pipelines and polyducts throughout Colombia.

SOURCE Wood Group Mustang

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs