Conciliation Agreement with CENIT and Bicentenario Extended to October 29, 2021

Source: www.gulfoilandgas.com 9/30/2021, Location: South America

Frontera Energy Corporation, Cenit Transporte y Logística de Hidrocarburos S.A.S. ("CENIT") and Oleoducto Bicentenario de Colombia S.A.S. ("Bicentenario") separately announced that they have agreed to extend the deadline for the approval of the Conciliation Agreement (the "Conciliation Agreement") between Frontera, CENIT and Bicentenario from September 30, 2021 to October 29, 2021.

On March 24, 2021, the Office of the Attorney General of Colombia ("Procuraduría General de la Nación") approved the conciliation agreement between Frontera, CENIT and Bicentenario. Delivery of the favourable opinion by the Procuraduría General de la Nación represented the first of two stages of review of the Conciliation Agreement.

The Conciliation Agreement is before the Administrative Tribunal of Cundinamarca (the "Tribunal"), which constitutes the second and final stage of approvals, and would resolve all the disputes between the parties related to the Bicentenario Pipeline and the Caño Limón – Coveñas Pipeline, and would terminate all the pending arbitration proceedings related to such disputes.

The parties remain confident of the merits of the Conciliation Agreement that was previously approved by the Procuraduria General de la Nación.

All the Frontera subsidiaries involved in those proceedings are also parties to the agreement, and references to Frontera include such subsidiaries. The terms of the Conciliation Agreement remain the same as previously announced by the Company on November 17, 2020.


Poland >>  9/24/2022 - Energinet notified the gas market that the Baltic Pipe gas pipeline can be commissioned at full capacity from the end of November 2022, a little more ...
United States >>  9/21/2022 - Williams Industrial Services Group Inc., an energy and industrial infrastructure services company, announced that it has entered into a Master Service...

Australia >>  9/19/2022 - HIGHLIGHTS
• Non-binding MoU executed with APA Group (through APT Management Services Pty Limited)
• Covers the potential development of...

Greece >>  9/19/2022 - Corinth Pipeworks has been awarded a contract by Saipem S.p.A for the development of an offshore and onshore natural gas pipeline by Gastrade. The Flo...

Nigeria >>  9/19/2022 - Decklar Resources Inc. is pleased to provide an update on operational activities relating to the transportation and export of crude oil produced from ...
United States >>  9/19/2022 - WhiteWater Midstream, LLC (“WhiteWater”) announced that subsidiaries of Whistler Pipeline, LLC and Cheniere Energy, Inc. have executed agreements to m...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.