Shell acquires stakes in Ecopetrol blocks

Shell acquires stakes in Ecopetrol blocks

M&A Energy Gas Colombia Caribbean Europe

Colombia's state-owned oil company Ecopetrol said on Friday that it has agreed to sell half of three deepwater blocks to Shell for an undisclosed amount. Under the terms of the deal, Shell will take 50% stakes in the Fuerte Sur, Purple Angel and COL-5 blocks in the Caribbean Sea. The Anglo-Dutch oil company will assume operation of the blocks, drill an appraisal well by the end of next year and complete the first production test, Ecopetrol said in a press release. The blocks could increase Colom

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