Today Ecopetrol presented the highest offer, in association with other companies, for three of the eight blocks included in the heavy crude round held by the National Hydrocarbons Agency (ANH).
The three blocks add up to more than 4.1 million hectares in the eastern Llanos of Colombia.
An association between Ecopetrol and Shell presented the highest offer for the CPE 2 and CPE 4 blocks. In the first, which has an approximate size of 760 thousand hectares, the operator would be Shell. The operator would be Ecopetrol for the second, 964 thousand hectares in size. In both blocks the companies have the same percentage share (50%).
Another association formed between Ecopetrol and Talisman presented the highest bid for the CPE 8 block, measuring 2.39 million hectares. The two companies hold an equal share and Talisman would be the operator.
The awarding of the blocks is subject to validation by the ANH. The highest offers presented today in Bogotá place the associations in first place in terms of eligibility for winning the bids and subsequently signing a technical evaluation contract (TEA for the Spanish).
Ecopetrol is involved in heavy crude production in the Llanos in fields such as Castilla and Rubiales (this last field in association with Meta Petroleum). It is also doing exploratory work in the Caño Sur block together with Shell and in the Quifa block with Meta Petroleum.
Bogotá D.C., July 17th, 2008