Ecopetrol Increases Stake in Exploration of Cano Sur Block
Investing News Network - February 14th, 2011
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.
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.