ExxonMobil inks upstream deal to start exploration off Colombia

By OGJ editors

HOUSTON, May 18 -- ExxonMobil de Colombia SA, together with Colombia's state oil company Ecopetrol and Brazil's Petroleo Brasileiro SA (Petrobras), signed a participation agreement to begin exploration activities off Colombia.

The agreement covers the 11 million acre Tayrona block off Colombia's northern coast in the Caribbean Sea. Petrobras will serve as operator during the exploration phase, and ExxonMobil will act as operator for the development phase in the event that gas is discovered on the block, ExxonMobil said.