Ecopetrol has been granted sole explo rights to the COL 5 unit in the Caribbean, where it now has rights to 6 blocks. Ecopetrol will be seeking to farmout the 4,000-sq km permit, which is adjacent to its Purple Angel and Fuerte Sur blocks in the SinÃº Basin. COL 5 had earlier been held under TEA terms.  This is the 1st contract signed under the revamped regulatory framework for offshore ops, signed into law last week. Up to another 9 contracts are hoped to be signed in the near future, with TEA conversions likely for Anadarko, Exxon, Repsol + Shell.
Ecopetrol has been granted sole explo rights to the COL 5 unit in the Caribbean.