Ecopetrol, Repsol acquire oil blocks in Gulf of Mexico

Must Read

OilNOW
OilNOW
OilNOW is an online-based Information and Resource Centre

Colombia’s state-run oil company Ecopetrol ECO.CN, in partnership with Spain’s Repsol (REP.MC), has acquired four new blocks in the Gulf of Mexico for deep water oil exploration, Ecopetrol said on Friday.

Ecopetrol’s U.S. subsidiary, Ecopetrol America Inc., and Repsol can explore the blocks for five years at a depth of about 240 meters.

The blocks, Garden Banks 77, 78, 121 and 122, are close to platforms and existing infrastructure, allowing for early production if there is a discovery, Ecopetrol said in a statement.

The new blocks are part of Ecopetrol’s deep-water focused efforts to increase its reserves and production. The company currently produces more than 12,000 barrels per day in the Gulf of Mexico.

- ADVERTISEMENT -
spot_img

Partnered Events

Latest News

Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

More Articles Like This