Ecopetrol invests in Brazil's pre-salt oil fields

Ecopetrol invests in Brazil's pre-salt oil fields

M&A Equity Energy Gas Brazil Colombia Europe

Colombia's Ecopetrol said it has agreed to buy a 30% stake in two pre-salt oil field concessions from Shell for an undisclosed amount.Shell will keep 50% and remain the operator of the so-called Gato do Mato oil deposit in the Santos Basin, while France's Total will hold on to its 20% stake, Ecopetrol said in a statement.Shell and Total have drilled three wells in the two blocks. The consortium expects to start production in the next few years, with Ecopetrol's share coming to roughly 20,000 bar

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