EcoPetrol joins StatoilHydro in Gulf partnership

Uchenna Izundu
International Editor

LONDON, Dec. 31 -- StatoilHydro and Ecopetrol America Inc. have agreed to carry out exploration jointly in the Gulf of Mexico and plan to drill three or more wells in the coming years.

StatoilHydro will remain operator for all prospects as the companies further evaluate mature prospects for potential drilling.

"Ecopetrol will farm in with interests of around 20-30% in the wells covered by the agreement," StatoilHydro said.

"This agreement is in line with our long-term Gulf of Mexico strategy," said Oivind Reinertsen, StatoilHydro senior vice-president of the USA and Mexico. "We are starting our drilling operations next year in some of the prospects we acquired from lease sales and acquisitions in the past years."

Two drilling vessels will drill for StatoilHydro in the Gulf of Mexico next year. StatoilHydro has working interests in five producing deepwater fields.

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