Ecopetrol, Oxy to Develop Four Deepwater Blocks Off Colombia

Reuters
Thursday, May 19, 2022
Credit: Ecopetrol (cropped)

Colombia's majority state-owned energy company, Ecopetrol, on Wednesday announced an agreement to develop four offshore, deep-water blocks with a subsidiary of U.S. oil major Occidental.

The four blocks are located in deep waters some 150 kilometers off Colombia's northern Caribbean coast, Ecopetrol said in a statement.

Ecopetrol will take a 40% stake in the blocks, while Occidental subsidiary Anadarko Colombia Co will have a 60% stake and will serve as the blocks' operator, Ecopetrol said.

"We're very pleased to seal this new alliance with (Occidental), a first-rate partner, to continue strengthening our exploration portfolio in Colombia's Caribbean," Ecopetrol Chief Executive Felipe Bayon said in the statement.

The deal is subject to approval from Colombia's oil regulator, the company said.

(Reuters - Reporting by Oliver Griffin; Editing by Leslie Adler)

Categories: Energy Deepwater Activity South America

Related Stories

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

TotalEnergies Joins APA and Petronas in Suriname’s Offshore Block

TotalEnergies Joins APA and Petronas in Suriname’s Offshore Block

Norway Identifies Four More Sites for Offshore Wind Development

Norway Identifies Four More Sites for Offshore Wind Development

Current News

Floatel Secures Longer Stay for Accommodation Rig off Australia

Industry Consortium to Asses Floating Nuclear Plants for Mediterranean Sea

Longitude Lines Up More Work at Shell’s West Delta Deep Concession off Egypt

MeyGen Tidal Energy Tech Sets New Operational Record

Subscribe for OE Digital E‑News

Offshore Engineer Magazine