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Ecopetrol establishes subsidiary in Germany; reaches agreement to acquire 10 pct of shares in blocks in Angola from Statoil

Thursday, 3 Jul 2014 09:28am EDT 

Ecopetrol SA:Establishes subsidiary in Frankfurt am Main, Germany, called Ecopetrol Germany GmbH.Ecopetrol to hold indirectly 100 percent stake in new entity.Equity value of new subsidiary is 25,000 euros.Reaches agreement to acquire, through its subsidiary, 10 percent stake in blocks 38/11 and 39/11 in Kwanza basin, located offshore Angola (Africa) from Statoil.Partners in block 38/11 are Sonangol P&P, Ecopetrol Germany GmbH and joint-venture formed by White Rose Energy Ventures and Genel Energy plc (WRG).Partners in block 39/11 are Sonangol P&P, WRG, Total and Ecopetrol Germany GmbH. 

Company Quote

-3.05 -7.40%
26 Aug 2014