Ecopetrol, Petroperu Sign MOU for Joint Projects

Colombia's and Peru's respective state oil companies Ecopetrol and Petroperu have signed an MOU for potential collaboration, Ecopetrol said in a statement.

The two companies will create an executive committee to identify potential joint projects throughout the hydrocarbons chain of Colombia, Peru and elsewhere. Further, companies will evaluate biofuels projects.

The MOU represents a first step toward developing joint projects though more specific common interests have yet to be determined, a Petroperu spokesperson told BNamericas.

The memorandum has an initial five-year term and can be extended for equal periods.

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