Brazil: Ecopetrol and Anadarko Confirm the Presence of Oil in Offshore Block bm-c-29

In accordance with standards set by the Brazil National Petroleum Agency (ANP), regulator of the Brazil oil sector, Anadarko, the operator of Block BM-C-29, reported that it has confirmed the presence of hydrocarbons in the Itauna well in which Ecopetrol is a 50% partner through its affiliate in Brazil.

The well was drilled by Seadrill’s Offshore Mischief jack-up rig.

No further information is available to date. Future developments and projections will be subject to additional data to be obtained during the exploration activities carried out in the block in the following months.

Ecopetrol is Colombia´s largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 40 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and it is entering into the biofuels business.

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Source: Ecopetrol,September 30, 2010,