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Reuters: Colombia’s Ecopetrol inks offshore deal with Shell

Wed Dec 12, 2007 4:18pm EST

BOGOTA, Dec 12 (Reuters) – Colombia’s state oil company Ecopetrol ECO.CN has signed a deal with Royal Dutch Shell (RDSa.L: Quote, Profile, Research) to explore two offshore fields in the Gulf of Mexico, its U.S. unit Ecopetrol America said on Wednesday.

Ecopetrol said it had signed a participation agreement with Shell and Newfield Exploration to explore blocks 777 and 778 in the Garden Banks area of the gulf.

Shell will have a 65 percent participation and will be the operator of the fields while Ecopetrol will have 25 percent and U.S. company Newfield (NFX.N: Quote, Profile, Research) 10 percent in the deal.

Ecopetrol said the Gulf of Mexico deal forms part of its international expansion plans. (Reporting by Patrick Markey in Bogota) and its sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

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