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The Rubiales Oil Agreement (June 12, 1938) was a historic oil treaty between the Republic of Colombia and the United States of America. The treaty authorized the construction of US oil facilities in the expansive Rubiales oil fields, in return for extensive mechanized equipment and technology. The treaty is set to expire June 12, 2038.
United States to Colombia
- Colombian Petroleum Enterprise (Ecopetrol) will be able to buy crude and refined oil at 90% of market prices from US companies in the Rubiales.
- $7,500,000 start up funds
- 2000 Dodge 1/2-ton 4x4 Series light trucks
- 1200 M2 Half-Track cars
- 10,000 Colt M1911 pistols
- 6000 M1 Garand bolt-action rifles
- 2500 M1918 Browning Automatic Rifles (BARs)
- 500 Springfield M1903A4 sniper rifles
- 10,000 Mk2 hand grenades
- 10,000 Ka-Bar knives
- 64 Naval Aircraft Factory N3N-3 training planes
- 24 Douglas B-18 Bolo bombers
- Ten Bell P-39 Aircobra fighters
- 24 Brewster F2A Buffalo fighters
- Three Lockheed R50-1 Lodestar executive transports
- 300 M2A4 medium tanks
- 500 M1 81mm mortars
- 12 PT-2 "Crash Boat" PT boats
- Three Mahan-class destroyers with fuel and ammunition for 12 months
- USS Flusser
- USS Dunlap
- USS Smith
Colombia to United States
- Free oil
Schedule of construction
- 1939.5: Oil scouting complete
- 1941.5: First oil wells complete
- 1942: First oil refineries complete
- 1945: Oil pipeline to coast complete
- The United States will severely condemn any attempts by foreign powers to invade, take over or otherwise control the Republic of Colombia.