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NEWS
Ecopetrol acquires 30% of the
Gato do Mato discovery in
Brazil’s Pre-Salt
Ecopetrol could incorporate
some 90 million barrels of crude
oil in contingent resources as of
2020, with production that could
total around 20,000 barrels of
crude per day in 2025.
The Company will hold a 30%
interest. Shell will continue as operator
with 50%, while Total will
retain 20%.
Ecopetrol S.A. (BVC: ECOPETROL,NYSE: EC) reports that its subsidiary Ecopetrol Óleo e Gás do Brasil
Ltda has entered into an agreement with Shell Brasil Petróleo Ltda. to acquire 30% of the interests, rights
and obligations in two areas corresponding to the BM-S-54 Concession Agreement and the Sul de Gato
do Mato Shared Production Agreement, located offshore in Brazil's Santos basin, in the so-called Pre-Salt,
where a hydrocarbon deposit known as "Gato do Mato" was discovered.
Under this agreement, Shell will
reduce its stake from 80% to 50%
and continue as operator, while
the French company Total will
retain the remaining 20%.In addition
to these oil companies, the
Brazilian government also
participates in the Shared
Production Agreement, through
Pré-Sal Petróleo S.A. (PPSA).
After discounting this share, the
consortium will proportionally
maintain the above
percentages.
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