Latin American Herald Tribune | 3/19/2009 12:00:00 AM
Colombia’s Ecopetrol to Buy Stakes in Two Peru Oil Blocks
Mar 19 -- Colombian state-controlled oil company Ecopetrol and Brazil’s Petrobras and have entered into a deal to jointly explore and produce oil in Peru’s Amazon region, the Colombian company said in a statement.
Through its subsidiary in Peru, Ecopetrol signed agreements to acquire stakes in two blocks from Petrobras Energia del Peru S.A: a 50 percent stake in the larger of the two blocks and a 25 percent stake in the other.
Block 110 has an area of 14,831 square kilometers (5,725 square miles) and is located in southeastern Peru, in the Ucayali river basin, while the other covers 13,865 square kilometers and is located in Peru’s northeastern corner, near that country’s borders with Colombia and Ecuador, in the Marañon basin.
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