Ecopetrol Submits Competitive Bids for 4 Blocks Offered in ANH Round

Ecopetrol has submitted the most competitive bids for four exploration blocks included in the 2008 Mini Round prepared by the National Hydrocarbon Agency (ANH).

The awarded blocks are Llanos 4, Llanos 9, Llanos 14 and VMM 6, covering an approximate area of 270 thousand hectares and are located in the Eastern Plains region and the Middle Magdalena Valley.

The award of these blocks is subject to final approval by the ANH. The bids submitted today in Bogota position Ecopetrol as the eligible party for the subscription of the Exploration and Production (E&P) contracts with the ANH in relation to the awarded exploration blocks.

The total investments associated with these exploration blocks will amount to approximately US $90 million during the next three years.

The results from the Mini Round strengthen Ecopetrol's presence in the country's exploration areas, and represent a step forward towards achieving the goals set forth for the year 2015.