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Ecopetrol Increases Stake in Exploration of Cano Sur Block
Feb. 14, 2011 06:23PM PST
Oil and Gas InvestingEcopetrol S.A. (NYSE:EC) and Shell Exploration and Production Colombia Cano Sur GmbH have reached an agreement whereby Ecopetrol will assume all of the stake that Shell previously held in the exploration of Cano Sur block.
Ecopetrol S.A. (NYSE:EC) and Shell Exploration and Production Colombia Cano Sur GmbH have reached an agreement whereby Ecopetrol will assume all of the stake that Shell previously held in the exploration of Cano Sur block.
The press release is quoted as saying:
Ecopetrol will continue to perform intensive exploratory work in order to ascertain the hydrocarbons potential of the eastern region of Meta province, where the Rubiales and Quifa fields are also located.
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