Ecopetrol and Anadarko Signed an Agreement to Undertake Oil Exploratory Activities in Brazil

Ecopetrol S.A., through its Brazilian subsidiary, Ecopetrol Oil Gas do Brasil Ltda., signed a Participation Agreement with Anadarko’s subsidiary, Anadarko Exploracao e Producao de Petroleo e Gas Natural Ltda. Through this agreement, Ecopetrol Oil Gas do Brasil Ltda. will have a 50% participation in the BMC-29 Concession in Brazil.

The BMC-29 Concession is an offshore concession located in the Campos Basin of Brazil that has a water depth between 30 and 100 meters and an area of 179 km2. The Concession was awarded to Anadarko during the sixth round of auctions in Brazil and it is currently in the exploratory phase.

This Participation Agreement allows Ecopetrol to continue its international growth, especially in Brazil, where it is already involved in other oil exploratory blocks and the production of hydrocarbons in conjunction with companies such as Petrobras, Vale and Petrogal in the Campos, Santos and Para Maranhao Basins of Brazil.

Ecopetrol is Colombia’s largest integrated oil company and is among the top 40 oil companies in the world and the four largest oil companies in Latin America. Besides Colombia, where it accounts for 60% of total production, the Company is involved in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol has the principal refinery in Colombia, most of the network of oil and multiple purpose pipelines in the country, and it is considerably increasing its participation in biofuels.