Repsol will operate two blocks off Colombia after signing new exploration and production contracts with Ecopetrol and ExxonMobil.
Repsol will partner with Ecopetrol in the Gua-1 block in the Caribbean Sea with a 50% stake.
In the Col-4 block, Repsol will partner with ExxonMobil to operate the asset with a 50% stake.
Both contracts are expected to bring in investment commitments of more than $700 million, said Colombia’s hydrocarbon regulator ANH.
