Global infrastructure investment manager I Squared Capital, through its ISQ Global Infrastructure Fund II, has acquired an indirect equity interest in Oleoducto Central, S.A. (OCENSA) from Advent International.
No purchase price was revealed.
OCENSA operates the largest crude oil pipeline in Colombia, with a capacity of 680,000 barrels per day, and transports roughly 75% of the oil produced in the country, Kallanish Energy understands.
The company began operations in 1998, and is controlled and operated by CENIT Transporte y Logistica de Hidrocarburos S.A.S. (CENIT), a wholly owned midstream-dedicated subsidiary of Colombia’s Ecopetrol.
The 848-kilometer (527-mile) pipeline is mostly underground and originates in the Llanos Basin, Colombia’s most prolific oil producing region, and ends at a wholly-owned export terminal in the port of Coveñas, the main oil export port in the country.
“I Squared Capital has built a strong franchise across Latin America with more than $1.5 billion invested in the power generation, transmission and midstream sectors,” said Adil Rahmathulla, managing partner at I Squared Capital. “I Squared Capital’s investment in Colombia reinforces our strategy to expand our footprint into high-growth emerging markets … .”
White & Case served as legal counsel to I Squared Capital on this transaction.
This post appeared first on Kallanish Energy News.