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Advent International (Advent), a US based global private equity fund, is set to buy a minority stake in the Ocensa oil pipeline, Colombia. Advent will purchase the stake from Canada's Talisman Energy Inc, France's Caspa and Madrid based Total SAL.

The US$ 1.1 billion agreement will give Advent a 22% stake in the Ocensa pipeline. Currently, Talisman holds a 12% stake and Cepsa and Total each hold 5%. Talisman鈥檚 sale of its minority stake to Advent marks its most recent attempt to cut expenses and increase share price. The agreement, which is managed by J.P Morgan Chase & Co. and Credit Suisse, is expected to be announced next week.

Other companies have also expressed their interest in purchasing the minority stake in Colombia鈥檚 largest oil pipeline, such as Enbridge Inc and Transcanada Corp. For Advent, the purchase in Ocensa would represent its largest investment in Colombia. In addition, it would mark Advent鈥檚 entry into Colombia鈥檚 oil transportation industry.

Ocensa oil pipeline

The Ocensa oil pipeline runs from the Cusiana and Cupiagua fields in the Llanos basin to the port of Cove帽as on the Caribbean coast. The 830 km long pipeline has a capacity of 560 000 bpd of oil, accounting for approximately 60% of total Colombia oil production.

The pipeline is connected with the the 235 km Oleoductos de Los Llanos pipeline, which transports oil from the Rubiales heavy oil field in the Los Llanos basin.

Edited from various sources by

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