Talisman Energy has sold off its stake in Colombia’s Ocensa pipeline in a $595million deal.
The sale, part of the company’s ongoing divestment programme, brings selloffs across the firm to more than $2billion.
It comes just a day after the Canadian oil producer confirmed a major oil find in the south-east of the country.
The 515mile long pipeline, which can carry around 650,000 barrels of oil per day, takes crude from the Cusiana and Cupiagua fields to the coast.
As part of the sale Talisman will retain their right to transport around 63,000 barrels per day through the pipeline.
“Through this transaction, we have unlocked net value from our portfolio and retained our crude transportation rights,” said Talisman chief executive Hal Kvisle.
“This enables us to maintain our competitive advantage by transporting oil from our own operations and generating third party revenue from any surplus capacity.”
US private equity fund Advent International has taken over the stake, along with those held by Total and Cepsa, in an overall $1.1billion deal.
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