GeoPark renews oil offtake deal with Vitol in Colombia

Latin American oil and gas explorer GeoPark has renewed its offtake and prepayment agreement with Vitol to supply all its crude oil production from Colombia’s Llanos basin. Originally established in May 2024, the agreement involved the sale and delivery of a minimum of 20,000 barrels of oil per day (bopd) from the Llanos 34 block. The extension is currently set to expire on 31 December 2028. It covers production from the Llanos 34 block, where GeoPark holds a 45% working interest, as well as the Llanos ...