Ecopetrol and Norway's StatoilHydro to explore for oil
TMCnet - The World's Largest Communications and Technology Community
TMC Launches New Sites ::  NGC  |  4GWE  |  Green Tech  |  Satellite  |  IT |  ITEXPO  |  Healthcare  |  Smart Grid  |  M2M  |  Smart Products  |  AstriCon News  |  SATCON News
TMCnet CHANNELS
#1 VoIP Enabler: Risk-free, Quick & Easy Deployment
Advanced Carrier Services
Advanced IP Carrier
Answering Service
Appliance Deployment
ATCA
Auto Dialer
BPA (3rd Party Remote Call Monitoring)
Broadcast Modulator
Business Phone Systems
Business Process Automation
Business VoIP
Call Center
Call Center Certification
Call Center Digital Signage
Call Center Furniture
Call Center Hiring
Call Center Management
Call Center On Demand
Call Center Outsourcing
Call Center Scheduling
Call Center Software
Call Center Solutions
Call Center Training
Call Center Workforce Management
Call Monitoring
Call Recording
Communications Enabled Business Processes
Conference Call
Conferencing
Contact Center Headsets
Contact Center Software
CRM Cloud Computing
CRM Software
CRM Solutions
DID/DDI
Digital Signage
e911
E911 Hosted Solutions
Email Archiving
Email Server
Enterprise Fax over IP
Enterprise VoIP
Ethernet Extender
Fax
Fax Over IP
FoIP
HD Conference
Hosted Contact Center
Hosted PBX
Integrated Communications
IP Fax
IP Multimedia
IP Phone Maker
IP Phone System
IP Phones
IP Transit
IVR
Lead Management Software
Master Agent
Mobile Management
Mobile Unified Communications
Mobile Video
NEBS
Network Installation
Open Source CRM
PBX PCI Adapter
Phone Systems
Portable Satellite Antenna
Predictive Dialer
Sales Software
SATCON
SIP
Speech Recognition and Text to Speech
Telecom Cost Management
Telecom Expense Management
Telecom Lifecycle Management
Telemarketing Software
Telepresence
Testing IP Services
Virtual Call Center
Virtual Office
Virtual PBX
Virtual Receptionist
Voice Broadcast
Voice Management
Voice Over IP
Voice Peering
Voicemail Replacement
VoIP Call Recording
VoIP Contact Center
VoIP Developer
VoIP Gateways
VoIP Monitoring
VoIPSwitch
Web Conferencing
Web Meeting
Wholesale VoIP
Wireless Expense Management
Wireless Management
Workforce Management
Workforce Optimization
Share
TMCnews
[December 24, 2008]

Ecopetrol and Norway's StatoilHydro to explore for oil

(EFE Ingles Via Acquire Media NewsEdge) Bogota, Dec 24 (EFE).- Colombia's Ecopetrol said it signed a long-term agreement with Norway's StatoilHydro to explore for oil in the deepwater Gulf of Mexico.

The Colombian oil company said it would have a stake of 20 percent to 30 percent in the joint venture, which may require start-up investment of more than $160 million.

The agreement calls for drilling three wells in 2009-2010, with the option to participate in the drilling of additional wells in later years, Ecopetrol said.

"In addition to increasing our presence in one of the world's most important regions for oil and gas production, the alliance allows Ecopetrol to diversify its exploration risk and acquire knowledge and technology for the development of deepwater projects," the Colombian oil company said.



Ecopetrol is already participating in joint exploration projects in the Gulf with Shell, ENI and BP, and producing oil from the K2 field with U.S.-based Anadarko Petroleum as the operator.

StatoilHydro, for its part, said in a separate statement that it would have two drilling vessels operating in the Gulf of Mexico next year.



"This agreement is in line with our long-term Gulf of Mexico strategy. We are starting our drilling operations next year in some of the prospects we acquired from lease sales and acquisitions in the past years," StatoilHydro senior vice president for the United States and Mexico region Oivind Reinertsen said.

"We have a good portfolio of promising prospects and we are happy to have Ecopetrol America joining parts of our exploration program in the coming years," Reinertsen said.

Last week, Ecopetrol said it planned to spend $6.22 billion on exploration and production in 2009, or 35 percent more than this year and triple the 2007 level.

Ecopetrol CEO Javier Gutierrez Pemberthy said the company had a $60 billion investment plan for the 2008-2015 period. EFE

ocm/hv

Copyright ? 2008 EFE News Services (U.S.) Inc.

[ Back To TMCnet.com's Homepage ]
Discussions:
Be the first to post a comment on this page!
 
By  
TMCnet
+ Add to the Discussion
Bookmark mobile.TMCnet.com on your mobile phone now to stay on top of the latest tech news.
Featured White Papers
Featured White Paper RSS feed
10 reasons to switch to an IP PBX
Application Whitelisting: A new security paradigm
SCADA Systems Protection
view all white papers…
Top Stories
Today's TMCnet Top Stories and News Articles
InCode Telecom's Predictions for 2010
Fax Feature: RingCentral Helps Growing Limousine Company Expand Nation…
Wild for Animal Prints? Try This Flip
Internet Use in the Classroom is Low: Report
UC's Logicalis Moves Dallas Office to Plano
more of today's top stories...
Related VoIP News
Latest IP Communitions and VoIP News
In-Stat: Unified Communications Migrating to the Cloud
Frost & Sullivan Study: Virtualization Market in India to Grow Significantly
Windstream Announces Acquisition of Iowa Telecommunications Services
Teledata ICT of Ghana Using VocalTec's Essentra BAX VoIP Application Server
Sendmail, Osterman Detect E-Mail Cloud Trends

Subscribe FREE to all of TMC's monthly magazines. Click here now.