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Maersk Acquires 40% in Exploration Licence in Colombia

Source: 8/19/2005, Location: South America

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Marsk Olie og Gas AS (“Maersk Oil”) has reached an agreement to acquire a 40% interest from Petrobras Colombia Limited in the Tierra Negra exploration licence in Colombia. The licence covers an area of 1,110 square kilometers in the Llanos Foothills of the Eastern Cordillera of Colombia. Petrobras will continue as operator, with a 60% interest in the project. The drilling of an exploration well has been planned for 2006.

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Related Categories: Acquisitions and Divestitures  Economics/Financial Analysis  General  Investment  Risk Management 

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