Ecopetrol S.A., through its Brazilian subsidiary, Ecopetrol Oil Gas do Brasil Ltda., signed a Participation Agreement with Anadarko's subsidiary, Anadarko Exploracao e Producao de Petroleo e Gas Natural Ltda. Through this agreement, Ecopetrol Oil Gas do Brasil Ltda. will have a 50% participation in the BMC-29 Concession in Brazil.
The BMC-29 Concession is an offshore concession located in the Campos Basin of Brazil that has a water depth between 30 and 100 meters and an area of 179 km2. The Concession was awarded to Anadarko during the sixth round of auctions in Brazil and it is currently in the exploratory phase.
This Participation Agreement allows Ecopetrol to continue its international growth, especially in Brazil, where it is already involved in other oil exploratory blocks and the production of hydrocarbons in conjunction with companies such as Petrobras, Vale and Petrogal in the Campos, Santos and Para Maranhao Basins of Brazil.
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