Page 14 - LatAmOil Week 47 2022

LatAmOil NEWS IN BRIEF LatAmOil

systems (XM), and the Barranquilla - Cartagena Shared Deposit, including the portions of the
INVESTMENT coastal highway concession. At the international Transfer of Rights Agreement and the BS-500
level, Ecopetrol has a stake in strategic basins Concession Agreement (100% Petrobras) will
Ecopetrol announces the in the American continent, with Drilling and be 88.99% Petrobras, 7.34% CPBL and 3.67%
CNODC.
Exploration operations in the United States (Per-
creation of Ecopetrol US mian basin and the Gulf of Mexico), Brazil, and Petrobras, November 24 2022
Mexico, and, through ISA and its subsidiaries,
Trading LLC subsidiary Ecopetrol holds leading positions in the power BW Offshore provides
transmission business in Brazil, Chile, Peru, and
Ecopetrol has completed the formal process Bolivia, road concessions in Chile, and the tele- update on the Gato do Mato
for establishing a new subsidiary, Ecopetrol US communications sector.
Trading LLC, domiciled in Delaware, USA. The Ecopetrol, November 16 2022 oil project
main focus of the new subsidiary is the inter-
national marketing of refined, petrochemical Petrobras on assignment of BW Offshore has been advised by Shell Brasil
and industrial products as well as crude oil and Petróleo Ltda (Shell) that the final investment
natural gas from the Ecopetrol Group and third participation in the Búzios decision (FID) on the Gato do Mato oil and
parties. Ecopetrol S.A. indirectly owns 100% of gas field development offshore Brazil will not
the share capital of Ecopetrol US Trading LLC field be made within the next 12 to 24 months. The
through its subsidiary Ecopetrol USA Inc. Company expects to receive formal notifica-
This new subsidiary is expected to strengthen Petrobras, following up on the releases of tion terminating the limited notice to proceed
Ecopetrol’s sales and marketing presence in the 09/29/2021, 10/04/2021 and 03/04/2022, (LNTP) in due course. BW Offshore will be
North American and European markets and informs that it has received today the amount reimbursed for costs incurred in line with the
establish new synergies and businesses oppor- of BRL10.3bn, equivalent to $1.9bn by the agreed terms of the LNTP.
tunities that would enable its continued growth PTAX exchange rate of 11/24/2022, related to The Gato do Mato oil and gas field is located
through the energy transition and generate the assignment of 5% of its participation in the approximately 200 km offshore Brazil in the
greater benefits and welfare to its stakeholders. Production Sharing Contract of the Surplus Santos Basin, in water depths of around 2,000
Ecopetrol US Trading LLC, together with Volume of the Transfer of Rights, for the Búzios metres.
Ecopetrol Trading Asia established in 2021, will field, in the pre-salt of Santos Basin, to the part- BW Offshore, November 21 2022
enhance and strengthen the internationalization ner CNOOC Petroleum Brasil Ltda. The amount
of the Ecopetrol Group’s commercial strategy. already includes the adjustments foreseen in the Petrobras on the sale of
Ecopetrol is the largest company in Colombia contract, after all precedent conditions were met.
and one of the main integrated energy compa- The conclusion of the transaction is sub- REGAP Refinery
nies in the American continent, with more than ject to the signature of the Production Sharing
18,000 employees. In Colombia, it is responsible Contract Amendment Term by the Ministry of Petrobras informs that it has received a binding
for more than 60% of the hydrocarbon produc- Mines and Energy (MME). proposal for the sale of the Gabriel Passos Refin-
tion of most transportation, logistics, and hydro- After the transaction is effective, Petrobras ery (REGAP), in Minas Gerais, but decided to
carbon refining systems, and it holds leading will hold an 85% stake in the Production Sharing close the process, since the conditions of the pre-
positions in the petrochemicals and gas distribu- Contract of the Surplus Volume of the Transfer sented proposal were below Petrobras’ economic
tion segments. With the acquisition of 51.4% of of Rights of the Búzios field, while CPBL will and financial evaluation. Thus, the company will
ISA’s shares, the company participates in energy hold 10% and CNODC Brasil Petróleo e Gás evaluate the appropriate moment to start a new
transmission, the management of real-time Ltda (CNODC), 5%. The stakes in the Búzios competitive process.

P14 www. NEWSBASE .com Week 47 23•November•2022