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Ecopetrol Acquires 45% Stake in Repsol's CPO-09 Block, Fully Owning Asset and Adding 41 Million Barrels to Reserves

Dec 30, 2024, 01:09 AM

Ecopetrol has successfully concluded negotiations to acquire the remaining 45% stake from Repsol in the CPO-09 block, located in the Meta department of Colombia. This acquisition means that Ecopetrol now fully owns the asset, which is considered a key resource in the Piedemonte Llanero region. The deal is expected to add approximately 41 million barrels to Ecopetrol's reserves, enhancing its position in the oil sector.