Ecopetrol withdraws from blocks in Angola

Ecopetrol withdraws from blocks in Angola

Asset Management Capital Markets Corporate & Sovereign Strategy Economy & Policy Project & Infrastructure Finance Colombia

Colombia's state-owned oil company Ecopetrol said Monday that it liquidated ECP Germany Oil and Gas, a subsidiary that owned 10% of two exploration blocks in Angola, because no oil was found in the African country. Ecopetrol was the indirect owner of 100% of ECP Germany, which closed in Germany on December 17. "This company had been created for the purpose of carrying out exploratory activities in partnership with international industry leaders in the two blocks of the Kwanza Basin," Ecopetrol s

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