BOGOTÁ, Colombia, July 18, 2019 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC) reports that the Ministry of Mines and Energy
of Brazil has authorized the
transfer of a 10% stake in the Saturno block, located in the Santos
basin, to its subsidiary, Ecopetrol Óleo e Gas Brasil. Previously,
this percentage was equally held by Shell Brasil Petróleo Ltda and
Chevron Brasil Óleo e Gas Ltda.
The authorization was published in the Diario Oficial de
Brasil on July 17, 2019.
As reported on December 20, 2018,
Ecopetrol S.A. entered into an agreement with both companies to
gain a 10% interest in the Saturno block, which was finally
approved by the Ministry of Mines and Energy of Brazil. The block was assigned to Shell and
Chevron last September 28th in the
Fifth Pre-Salt Round held by the Brazilian National Agency of
Petroleum, Natural Gas and Biofuels (ANP).
Ecopetrol holds a 10% interest in the block, while Shell, as
operator, and Chevron each hold a 45% interest.
This block adds an additional Pre-Salt block, as Ecopetrol
already holds a 20% stake in Pre-Salt block, Pau-Brazil, in
partnership with CNOOC and BP. With these two Pre-Salt blocks,
Ecopetrol has a presence in five blocks in Brazil, located in the Santos, Foz de
Amazonas, Potiguar and Ceará basins.
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 Capital Markets (a)
Fernando Suárez
Tello
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: (+ 571) 234 4329
E-mail: mauricio.tellez@ecopetrol.com.co
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content:http://www.prnewswire.com/news-releases/ministry-of-mines-and-energy-of-brazil-authorizes-the-transfer-of-10-stake-in-saturno-block-to-ecopetrol-300887507.html
SOURCE Ecopetrol S.A.