By OGJ editors
HOUSTON, Apr. 12 -- BHP Billiton Ltd. has signed contracts with Colombia's Agencia Nacional de Hidrocarburos (ANH) for exploration and production rights to two blocks in the Caribbean.
The Fuerte Norte and Fuerte Sur blocks each covers 1.2 million acres in 50-2,700 m of water. BHP Billiton will operate and hold a 75% interest in each block. State-owned Ecopetrol holds the remaining 25% interests.
The contracts are an addition to a technical evaluation agreement (TEA) awarded in 2005 whereby BHP Billiton assessed exploration and development opportunities on 3.75 million acres off Colombia. The TEA was converted into an exploration license.