Ecopetrol S.A., jointly with other companies, executed six agreements with the Brazilian National Oil and Biofuels Agency (ANP) to explore the same number of exploratory blocks in Brazilian territory.
The execution of these agreements confirms the awarding announced the previous year within the 9th Bidding Round held in Rio de Janeiro, where the company had been among those consortia that presented winning bids, as reported in November, 2007.
The consortium, comprised by Petrobras, Petrogal and Ecopetrol, signed the concession agreement for block CM-593, located in the Campos basin. The share of Ecopetrol is 37.5%.
The consortium comprised by Petrobras, Compania Vale do Rio Doce and Ecopetrol signed the concession agreements for the PAMA-M 187, 188, 222 and 223 blocks, located in the Para-Maranhao basin. In this case, Ecopetrol's share is 30%.
Furthermore, the consortium, comprised by Petrobras, and Ecopetrol, signed the concession agreement for block S-M-1476, located in the Santos basin. Company share in this block is 30%, while Petrobras holds the remaining 70%.
With the results from this round, Ecopetrol reaffirms its efforts to grow its international participation in Brazil, Peru and the United States-Gulf of Mexico.
