Established in 1994, Ocensa manages Colombia's largest crude oil transportation system - the main pipeline between Colombia's Llanos region and the Atlantic Coast. Pumping an average of 590,000 barrels per day, the system is a core strategic asset for Colombia, moving approximately 60% of the nation's crude oil production, representing around 70% of Colombia's total crude oil exports.
Ocensa operates the most cost-efficient and reliable pipeline that connects the main oil producing basin in Colombia with the main oil exporting port. The business is strategically well-positioned to manage further expansion of Colombia's crude oil output, which has nearly doubled in the past six years and is expected to continue to increase. With its system currently running at close to 100% utilization, Ocensa has begun a staged expansion project to increase capacity by approximately 30%.
Acquiring a minority interest in Ocensa in December 2013, our third investment in Colombia was a landmark deal for Advent, marking our first mid-stream oil and gas investment. Partnering with management, we plan to apply our significant energy sector expertise to ensure Ocensa maintains its proven track record of safety and reliability while supporting the business in its continued growth.