Ecopetrol Partners with Shell, Talisman in New Colombian Ventures

Ecopetrol, in seperate partnerships with Shell and Talisman, was the highest bidder for three of the eight blocks offerred in the heavy crude oil round hosted by the National Hydrocarbons Agency (ANH).

The three blocks up for bids and won by Escopetrol and its partners extend to more than 4.1 million hectares in the eastern plains of Colombia.

Ecopetrol and Shell submitted the highest bid for blocks CPE 2 and CPE 4. Block CPE 2 is comprised of an area that is approximately 760 thousand hectares, with Shell as its soon-to-be Operator, and the second block, CPE 4, covers 964 thousand hectares, with Ecopetrol as its soon-to-be Operator. Both Companies have equal participation (50%) in the two blocks.

Another partnership formed by Ecopetrol and Talisman held the highest bid for the block EPC 8, which is an area of 2.39 million hectares. The two Companies also have equal participation (50%) and Talisman will serve as the block's Operator.

The award of these blocks is subject to validation of ANH. 

Ecopetrol is the largest company in the country and the principal petroleum company in Colombia, and jointly holds interests in the Cano South Block with Shell and the Quifa block with Meta Petroleum.