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Enbridge International
OCENSA
The Oleoducto Central S.A. (OCENSA) crude oil pipeline was Enbridge's first
international venture, entered into in 1994. Enbridge holds a 24.7% long-term
investment and acts as operator of the US$2.3 billion project. The Colombia
investment involved the purchase of existing pipeline assets and construction
of 830 kilometres (516 miles) of 30-inch and 36-inch pipeline, additional
pumping units, tankage and expansion of marine loading facilities to transport
550,000 barrels per day of crude oil from the Cusiana and Cupiagua
oilfields in the central interior of Colombia to the Port of Coveñas on
the Caribbean coast. Construction commenced in late 1995 and was completed
in early 1998. In 2007, Enbridge's investment in the Colombia project contributed
$32.9 million to earnings.
CLH
On May 29, 2008 Enbridge announced that it had entered into a binding agreement to sell its 25% interest in Compañía Logística de Hidrocarburos S.A. (CLH). This transaction closed on June 17, 2008.
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