The state-led company said the new unit, Ecopetrol Offshore Colombia, would be structured as a subsidiary of the wholly-owned Hocol Petroleum.
The new entity will also be subject to a new free-trade law designed to help attract investment to the country's nascent offshore sector.
Ecopetrol Offshore Colombia has been allocated authorised capital of up to 2 billion pesos ($594 million) and has subscribed capital of 400 million pesos.
The
