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pipeline network

CLH’s operating assets include 100% of the refined products pipeline network in Spain, as well as 63% of the total product storage capacity in the country.

OCENSA is well positioned for two major upstream heavy oil developments. By the end of this year, OCENSA expects to be moving 150,000 barrels a day from the Castilla Field. The Rubiales Field, which has about 621 million barrels of estimated reserves and current production of around 18,000 barrels a day, offers further growth prospects for OCENSA.

INTERNATIONAL

Enbridge has energy-delivery investments in South America and Europe:

  • 24.7% interest in Oleoducto Central S.A. (OCENSA) crude oil pipeline in Colombia; and
  • 25% of Compañia Logistica de Hidrocarburos CLH, S.A. (CLH), Spain’s largest refined products transportation and storage business.

We invested in OCENSA in 1994 and CLH in 2002. Both are delivering consistently solid returns and have strong growth prospects for the future.

In early 2008, Enbridge announced it has begun the process of evaluating strategic alternatives for monetizing its investment in CLH. Alternatives include the potential sale of some or all of Enbridge’s shareholding in the company. Proceeds from any monetization of the CLH investment would be applied toward funding Enbridge’s extensive list of expansion projects in its core North American crude oil pipeline business.

The OCENSA pipeline is Colombia’s largest pipeline system, stretching from oilfields in the central interior of the country to the Caribbean coast.

The OCENSA pipeline is Colombia’s largest pipeline system, stretching from oilfields in the central interior of the country to the Caribbean coast.