Latin America

 

Occidental has been an active investor in Colombia for more than four decades. Currently, Occidental has operations in the Llanos Norte Basin in the Department of Arauca and in the Middle Magdalena Basin in the Department Santander. In 2018, Occidental acquired six new prospective blocks near areas where we have operational experience, increasing our gross acreage to approximately 2 million.

In the Llanos Norte Basin, Occidental operates the giant Caño Limón Field, an Occidental discovery that enabled Colombia to regain its status as a net oil exporter. More than 1.42 billion barrels of oil have been produced at Caño Limón since its discovery in 1983. Occidental's Chipirón Field, also in the Llanos Norte Basin, has been recognized by Asociación Colombiana de Ingenieros de Petróleos (Acipet) for innovative efforts to safely produce oil in a remote area while preserving the environment.​

In the Middle Magdalena Basin, Occidental has a working interest in the La Cira-Infantas (LCI) area, where it has coordinated an enhanced oil recovery (EOR) project in collaboration with Ecopetrol, Colombia's state-owned oil company, increasing LCI's production and reserves, and a working interest in the Teca area. In 2018, Occidental sanctioned a new steamflood project in the Teca-Cocorná Field in partnership with Ecopetrol, following a successful pilot.

 

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Latin America

​​Occidental's Latin America operations are located in Colombia and Bolivia. In Bolivia, Occidental holds working interests in the Tarija, Chuquisaca and Santa Cruz regions in the southern and eastern areas of the country, which produce gas