"We created Ecopetrol's subsidiary in Brasil and now are searching out production or exploration assets in shallow and deep waters and onshore," he said on the sidelines of the Latin Upstream conference in Rio de Janeiro.
Ecopetrol could team up with partners to bid for oil exploration blocks in round nine.
"Ecopetrol will only enter into joint ventures in round nine if it is able to operate the blocks. We are not interested in merely having participation in blocks in Brazil," said Silva.
Ecopetrol, in partnership with Brazil's federal energy company Petrobras (NYSE: PBR), won the license during round eight last year for the Tucano 156 block in the Tucano Sul basin.
When court injunctions suspended the eighth round last year, officials said at the time they planned to hold round nine by mid-2007.
Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
Most Popular Articles
From the Career Center
Jobs that may interest you