Eni signs partnership agreements with Colombia's state oil company Ecopetrol for exploration activity

20.11.08 - 16:23 ... source : Eni

... TAGS: Media Archive Acquisitions and Divestments Media Investor Relations eni shareholding ecopetrol exploration activities exploration block agreements company These strategic partnership agreements will enable Eni to manage and diversify the risk of its exploration portfolio San Donato Milanese (Milan), 20 November 2008 - In Bogotá, Eni signed two agreements with Ecopetrol, the Colombian state-controlled oil company. The first agreement will enable Ecopetrol to farm into Eni's current U.S. Gulf of Mexico exploration portfolio. Ecopetrol will be assigned a 20 to 25% working interest on at least five wells to be drilled within 31 December 2012. Under the terms of the agreement, Ecopetrol will invest and carry a portion of Eni's drilling costs for a total in excess of $220 million. The second agreement is a Memorandum of Understanding (MoU) aimed at increasing coo ...» Next (HTML)