Ecopetrol joins Oxy in E&P venture

Ecopetrol joins Oxy in E&P venture

M&A Energy Oil Colombia Caribbean

Colombian state-owned oil producer Ecopetrol has reached a deal to acquire 40% of the exploration and production rights in four offshore oil fields that belong to Anadarko Petroleum, a subsidiary of Occidental Petroleum. Anadarko will hold on to 60% of the blocks and remain the sole operator, Ecopetrol said in a statement. The deal is subject to approval by Colombia's hydrocarbons agency ANH. The four blocks lie about 150km off the country's Caribbean coast, and seismic exploration data suggest

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