Ecopetrol confirms the agreement to purchase Repsol's 45% stake in block CPO 09
Ecopetrol (NYSE: EC) has announced an agreement to acquire Repsol's 45% stake in the Exploration and Production Contract for Block CPO-09. The transaction's final closing is pending approvals from the Superintendence of Industry and Commerce and the National Hydrocarbons Agency (ANH). Ecopetrol, Colombia's largest company, controls over 60% of the country's hydrocarbon production and holds leading positions in petrochemicals and gas distribution. The company also owns 51.4% of ISA, maintaining significant presence in energy transmission across Brazil, Chile, Peru, and Bolivia.
Ecopetrol (NYSE: EC) ha annunciato un accordo per acquisire il 45% della partecipazione di Repsol nel Contratto di Esplorazione e Produzione per il Blocco CPO-09. La chiusura finale della transazione 猫 in attesa delle approvazioni da parte della Superintendencia de Industria y Comercio e dell'Agenzia Nazionale dei Carburanti (ANH). Ecopetrol, la pi霉 grande azienda della Colombia, controlla oltre il 60% della produzione di idrocarburi del paese e detiene posizioni di primo piano nei settori della petrolchimica e della distribuzione del gas. L'azienda possiede anche il 51,4% di ISA, mantenendo una presenza significativa nella trasmissione energetica in Brasile, Cile, Per霉 e Bolivia.
Ecopetrol (NYSE: EC) ha anunciado un acuerdo para adquirir el 45% de participaci贸n de Repsol en el Contrato de Exploraci贸n y Producci贸n para el Bloque CPO-09. El cierre final de la transacci贸n est谩 pendiente de las aprobaciones de la Superintendencia de Industria y Comercio y de la Agencia Nacional de Hidrocarburos (ANH). Ecopetrol, la empresa m谩s grande de Colombia, controla m谩s del 60% de la producci贸n de hidrocarburos del pa铆s y ocupa posiciones de liderazgo en petroqu铆micos y distribuci贸n de gas. La empresa tambi茅n posee el 51,4% de ISA, manteniendo una presencia significativa en la transmisi贸n de energ铆a a trav茅s de Brasil, Chile, Per煤 y Bolivia.
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Ecopetrol (NYSE: EC) a annonc茅 un accord pour acqu茅rir la participation de 45% de Repsol dans le contrat d'exploration et de production pour le bloc CPO-09. La cl么ture finale de la transaction est en attente des approbations de la Superintendence de l'Industrie et du Commerce et de l'Agence Nationale des Hydrocarbures (ANH). Ecopetrol, la plus grande entreprise de Colombie, contr么le plus de 60% de la production d'hydrocarbures du pays et occupe des positions de leader dans les p茅trochimies et la distribution de gaz. L'entreprise poss猫de 茅galement 51,4% d'ISA, maintenant une pr茅sence significative dans la transmission d'茅nergie 脿 travers le Br茅sil, le Chili, le P茅rou et la Bolivie.
Ecopetrol (NYSE: EC) hat eine Vereinbarung zur 脺bernahme von Repsols 45% Anteil am Explorations- und Produktionsvertrag f眉r Block CPO-09 angek眉ndigt. Der endg眉ltige Abschluss der Transaktion steht noch aus und bedarf der Genehmigung durch die Aufsichtsbeh枚rde f眉r Industrie und Handel sowie die Nationale Hydrokarbonbeh枚rde (ANH). Ecopetrol, das gr枚脽te Unternehmen Kolumbiens, kontrolliert 眉ber 60% der Kohlenwasserstoffproduktion des Landes und nimmt f眉hrende Positionen in der Petrochemie und Gasdistribution ein. Das Unternehmen besitzt au脽erdem 51,4% von ISA und hat eine bedeutende Pr盲senz in der Energie眉bertragung in Brasilien, Chile, Peru und Bolivien.
- Strategic expansion of hydrocarbon production assets through acquisition of 45% stake in Block CPO-09
- Strengthens Ecopetrol's dominant position in Colombian hydrocarbon production (>60% market share)
- Transaction subject to regulatory approvals, creating execution uncertainty
- Financial terms and impact of acquisition not disclosed
Insights
The acquisition of Repsol's
The deal's structure requires regulatory approvals from both the Superintendence of Industry and Commerce and the National Hydrocarbons Agency, indicating potential antitrust considerations given Ecopetrol's dominant market position in Colombia. The company already controls over
While financial terms weren't disclosed, this acquisition could enhance Ecopetrol's reserves and production capacity in a familiar operational territory. The Llanos Basin has historically delivered strong production rates with relatively low operational costs, making it an attractive asset for portfolio expansion.
The transaction's complexity is evident in its two-stage structure: agreement signing followed by a separate closing phase. The pending regulatory approvals from multiple agencies reflect Colombia's robust regulatory framework for energy sector M&A. The Superintendence's review suggests competition law implications, while ANH approval focuses on technical and operational capabilities.
The deliberate staging of information disclosure, with additional details promised post-closing, aligns with securities regulations for NYSE-listed companies. This cautious approach to information dissemination protects shareholder interests while maintaining market transparency. The transaction's successful completion could further concentrate market power in Colombia's energy sector, making regulatory scrutiny particularly relevant.
The final closing of the acquisition has not yet occurred, as some of the conditions for closing are pending to be fulfilled, including the approval by the Superintendence of Industry and Commerce and the authorization by the National Hydrocarbons Agency (ANH) within their respective competencies.
Ecopetrol plans to provide additional information regarding the closing of the transaction in due time through the legally authorized channels for this purpose and in accordance with the regulations governing the disclosure of relevant information
Ecopetrol is the largest company in
For more information, please contact:
Head of Capital Markets (a)
Cristhian Prado Castillo
Email: investors@ecopetrol.com.co
Head of Corporate Communications 听
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co
听
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SOURCE Ecopetrol S.A.
FAQ
What stake is Ecopetrol (EC) acquiring in Block CPO-09?
What regulatory approvals does Ecopetrol need for the CPO-09 acquisition?
What is Ecopetrol's current market share in Colombia's hydrocarbon production?
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