BOGOTA, Colombia, March 15, 2015 /CNW/ -- Ecopetrol (NYSE: EC;
BVC: ECOPETROL; TSX: ECP) and Pacific Rubiales Energy announce
that they have agreed not to extend the Rubiales risk participation
and Piriri joint venture contracts that expire in 2016.
Ecopetrol will be examining different options for the operation
of the Rubiales field. For its part, Pacific Rubiales Energy will
explore the possibility of presenting a proposal to operate this
asset.
Both Ecopetrol and Pacific Rubiales Energy have expressed
interest in continuing to develop business opportunities for the
benefit of both parties and that of the country.
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 more information, please contact:
Director of Investor Relations (A)
Claudia
Trujillo
Tel: +571-234-5190
Email: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio
Tellez
Tel: +571-234-4329
Fax: +571-234-4480
Email: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.