ExxonMobil withdraws from Colombia oil and gas field
(WO) – Sintana Energy Inc. reported that ExxonMobil sent Patriot Energy Oil and Gas Inc. , a subsidiary of Sinata, a notice stating that it has decided to withdraw from a Joint Operating Agreement as of May 31, 2023.
The notice also states that ExxonMobil will withdraw from the contract with the Agencia Nacional de Hidrocarbons, effective after obtaining required Government approvals. Both the JOA and contract pertain to the 43,158 acres property known as the VMM-37 block, which is in Colombia’s Middle Magdalena Valley Basin.
Chief Executive Officer Doug Manner commented, "We are disappointed that our VMM-37 partner for more than a decade, ExxonMobil, has voluntarily chosen to withdraw from both the JOA and Contract. Management has engaged legal and technical advisors for assistance in addressing this unexpected change of events”.