Ecopetrol subsidiary Hocol announced on 26 November 2019, that it had signed an agreement with Chervon to acquire the US Supermajors 43% share and operatorship of the Guajira Block. The Guajira Block is host to the onshore Ballena and offshore shallow water Chuchupagas fields. Hocol signed the agreement with Chevron for the Caribbean Coast Block on 22 November 2019. The agreement is contingent on government approval. The Chuchupa was discovered in 1974 and production began in 1977. Gas is produced from Miocene calcareous sands. The asset has historically been the major supplier of natural gas to Colombia, although its market share has decreased in recent years. In September 2019, Chuchupa produced 164 MMcfg/d and Ballena 25 Mmcfg/d. Chevron operate the 819 sq km Guajira Block with 43% interest. Ecopetrol hold the remaining 57% interest.
Ecopetrol (->100%) will take over Chevronâs 43% stake in the Chuchupa & Ballena field in the Caribbean Sea.  