Colombia: Repsol joins Caribbean block group

Repsol Exploracion Colombia will assume a 30% share in the 4 million acre Tayrona exploration block in the Caribbean off Colombia.

By OGJ editors
HOUSTON, Jan. 5
– Repsol Exploracion Colombia will assume a 30% share in the 4 million acre Tayrona exploration block in the Caribbean off Colombia.

Petrobras Colombia Ltd., which has 40% interest, will continue as operator. Colombia’s state Ecopetrol SA has 30%. Repsol’s inclusion is subject to National Hydrocarbon Agency approval.

Ecopetrol said the block “comprises a part of the projects under way off Colombia's Caribbean coast, where Ecopetrol is moving forward with exploration activities with other partners.”

The Tayrona block is covered by a hydrocarbon exploration and exploitation contract signed with ANH in mid-2004.

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