BOGOTA, Colombia, Oct. 26, 2015 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC; TSX: ECP) hereby reports that, as
decided by its Board of Directors, Ecopetrol will take over the
operation of the Rubiales field following the conclusion of
the Rubiales risk participation and Piriri joint venture
contracts on June 30, 2016. These
joint venture contracts were signed with Metapetroleum, an
affiliate of Pacific Exploration & Production Corp.
The Company congratulates Pacific for the work it has done on
the Rubiales field, which made it possible to convert this field
into one of the most important in Colombia and the Americas.
Ecopetrol and Pacific will continue to jointly undertake
activities and initiatives with the goal of optimizing operations,
infrastructure and social responsibility endeavors in the
production areas of Llanos Orientales.
Furthermore, they affirm their interest in building synergies to
carry forward future projects that will generate value for the
benefit of the two companies and for all Colombians.
Ecopetrol is the largest company in Colombia and is an integrated oil & gas
company; it is among the top 50 oil companies in the world and
among the four top ones in Latin
America. Besides Colombia -
where it generates over 60% of the national production - it has
exploration and production activities in Brazil, Peru
& the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia and most of the pipeline and
multi-product pipeline network in the country, and is significantly
increasing its participation in bio-fuels.
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please contact:
Head of Corporate Finance and Investor
Relations
Maria Catalina
Escobar
Phone: (+571) 234-5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: +571-234-4329
E-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.