Ecopetrol Consummated Transaction with Shell

Source: www.gulfoilandgas.com 12/24/2020, Location: South America

Ecopetrol S.A. hereby informs that on December 23, 2020 it consummated the transaction with Shell previously announced to the market on February 7, 2020, by which Shell, through its subsidiary Shell EP Offshore Ventures Limited ("Shell"), acquired a 50% stake in the Fuerte Sur, Purple Angel and COL-5 blocks, located in the Colombian Caribbean deep water, where a new gas province was discovered including the Kronos (2015), Purple Angel and the Gorgon (2017) wells. The transaction has now been consummated.

The transaction is aligned with the strategic priorities of Ecopetrol's business plan, focused on reserves and production growth under strict capital discipline. With the closing of this transaction, the relationship with a strategic partner, highly experienced in the development of offshore areas, such as Shell, is also strengthened.


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