ExxonMobil, Ecopetrol, Petrobras consortium to explore off Colombia

By OGJ editors

HOUSTON, Aug. 26 -- ExxonMobil Exploration Colombia Ltd., Colombia's Ecopetrol, and Brazil's Petróleo Brasileiro SA, have signed the first exploration and production contract with Colombia's National Hydrocarbon Agency (ANH) to begin exploration activities in the Caribbean Sea off northern Colombia.

The agreement covers the 11-million-acre Tayrona block. ExxonMobil and Petrobras each hold a 40% interest in the block, with Ecopetrol having 20%.

The companies will acquire and analyze data during the initial 18 month phase of the program, including reprocessing 2D seismic and acquiring 3D seismic data. ExxonMobil also will employ its proprietary electromagnetic survey technique, Remote Reservoir Resistivity Mapping (R3M) technology.