Ecopetrol and Petrobras Complete $1 Billion Caribbean Natural Gas Exploration
EC Ecopetrol SA ADR
$16.96 -1.68%
View chart & analysis → - 1Ecopetrol and Petrobras have completed a record-scale natural gas exploration campaign in the Colombian Caribbean deep waters with an investment of approximately $1 billion.
- 2The campaign, which lasted two and a half years, drilled five exploration wells and was completed without any accidents or operational incidents.
- 3The project was carried out by Petrobras, holding a 44.4% interest, and Ecopetrol, holding a 55.6% stake.
So what's the key point?
Ecopetrol and Petrobras have finished a large-scale operation to find natural gas under the Caribbean Sea. This means the two companies completed the exploration without any accidents using $1 billion.
Source Oilprice.com · View original ↗
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