Ecopetrol (EC) Gets Complete Control of Southern Caribbean Offshore Assets

With a workforce of implicit 18,000, Ecopetrol S.A. (NYSE:EC) is among the largest companies successful Colombia and 1 of the starring integrated vigor groups connected the American continent.

Ecopetrol S.A. (NYSE:EC) reported connected December 24 that Colombia’s National Hydrocarbons Agency has formalized the transportation of a 50% involvement of Shell EP Offshore Venture successful favour of the Colombian company. Moreover, Ecopetrol has been granted the operatorship successful the E&P Contracts COL 5, Purple Angel, and Fuerte Sur, situated successful the Caribbean Offshore. As a result, the vigor elephantine present has afloat ownership of the rights, interests, and obligations of the aforementioned blocks.

Shell decided to retreat from its offshore assets successful the portion successful April 2025, arsenic portion of the company’s planetary portfolio strategy and management. Now that Ecopetrol S.A. (NYSE:EC) has assumed afloat control, it plans to proceed the improvement of existing state discoveries successful these areas, including Kronos-1, Purple Angel, Gorgon-1, Gorgon-2 ST2, and Glaucus-1. The institution volition besides measure whether to support its 100% ownership of these assets oregon bring successful a caller spouse that could lend method and fiscal support.

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Disclosure: None.