Colombian oil company looks at next rounds of bids in Brazil, where it has been expanding its portfolio
Ecopetrol acquired 10 thousand km² of 3D seismic and 2 thousand km of 2D seismic to evaluate the exploratory potential of the blocks that will be offered in the 6th production sharing auction and in the 16th round of block concessions, scheduled for this year.
The Colombian oil company has been expanding its international operations and investing in offshore assets in Brazil in recent years.
In 2018, Ecopetrol acquired 20% of the Pau-Brasil area in partnership with BP Energy (50%), which operates the asset, and CNOOC (30%), in the fifth round. For the block, subscription bonuses were paid in the amount of R $ 500 million and oil surplus of 63.79%.
Last week, the company obtained approval from the ANP for the purchase of 10% of the block of Saturno, also of the 5th round. The deal was closed in 2018 with Shell and Chevron to acquire a 5% stake of each.
In addition to the areas in the Santos Basin, Ecopetrol holds stakes in blocks CE-M-715 (50%), in the Ceará basin; POT-M-567 (100%), in the Potiguar basin; and FZA-M-320 (70%), in the Foz do Amazonas basin. The latter two are operated by the company.
In April, the command of Ecopetrol Brasil underwent changes with the arrival of the executive Jose Cotello. He replaced João Guilherme Clark Filho, who had been in charge for almost eight years.
Source: Brazil Energy Magazine