Ecopetrol: Ecopetrol expands its presence in Brazil in alliance with Shell

Ecopetrol SA, through its subsidiary Ecopetrol Óleo e Gás do Brasil, acquired a 30% stake in the SM-1709 block of 685 km2, located in the Santos basin of Brazil together with the operator Shell that participates with the 70%.

Access to the block took place in the development of Round 17 of the Agência Nacional do Petroleo, Gás Natural e Biocombustíveis (ANP) held today in Rio de Janeiro (Brazil).

The consortium was awarded the Santos basin block, off the southeastern coasts of Brazil, with a bond proposal of R $ 6,560,000 (equivalent to about USD $ 1.26 million) and a Minimum Exploration Program of 107 units.

The assignment of this block in the Brazilian offshore, together with a world-class company such as Shell, is aligned with the growth strategy of the Ecopetrol Group, focused on high-potential basins such as Santos in Brazil.

With this block, Ecopetrol has a presence in 6 blocks in Brazil, including the Gato do Mato discovery.