Ecopetrol, Petrobras Team Up with Repsol in Tayrona JV

Repsol Exploration Colombia has signed an agreement with Ecopetrol and Petrobras Colombia to farm-in to the Tayrona block, located off Colombia's Caribbean coast. Repsol will acquire a 30% interest in the block. Ecopetrol will retain 30%, and Petrobras, holding the remaining 40%, will continue to serve as operator. The block is covered by a hydrocarbon exploration and exploitation contract signed with the National Agency of Hydrocarbons in mid-2004.

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