Ecopetrol offers 20 production assets to oil and gas companies
June 24, 2016 at 12:30 PM EDT
BOGOTÁ, Colombia, June 24, 2016 /PRNewswire/ -- Ecopetrol S.A. ("Ecopetrol") announces that it launched 'Ronda Campos 2016,' a public and competitive bidding process, the objective of which is to offer to oil and gas companies Ecopetrol's stake and interests in 20 production assets located in the regions of Catatumbo, the Magdalena Middle and Upper Valley, Llanos and Putumayo.
'Ronda Campos 2016' is part of Ecopetrol's new strategy for 2015-2020, which is based on creating sustainable value and more efficient operation of assets. One of the objectives of the 'Ronda Campos 2016' is the rotation of Ecopetrol's portfolio in search of the greatest profitability for its shareholders.
The business opportunities offered have development potential in primary recovery and improved recovery. The fields are located near logistical facilities, which are an added attraction for small- and medium-sized oil and gas companies.
The process, which was presented to industry representatives, is a public bidding process addressed to national and international companies that would like to strengthen their position in Colombia or that seek to expand their operations in the country.
Companies interested in applying to enter the data room can find the information and documents related to 'Ronda Campos 2016' at the following web address:
http://www.ecopetrol.com.co/wps/portal/web_es/ecopetrol-web/our-company/about-us/what-we-do/ecopetrol-field-rounds-2016 (English - additional information available Tuesday June 28, 2016)
Ecopetrol is the largest company in Colombia and is an integrated oil & gas company; it is among the top 50 oil companies in the world and among the four top ones in Latin America. Besides Colombia - where it generates over 60% of the national production - it has exploration and production activities in Brazil, Peru & the US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.
This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.
For further information, please contact:
Head of Corporate Finance and Investor Relations (A)
Media Relations (Colombia)
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SOURCE Ecopetrol S.A.