signs upstream participation agreement to begin exploration activities
Posted: 08 May 2004
Exxon Mobil Corporation affiliate, ExxonMobil de Colombia S.A.,
together with Ecopetrol and Petrobras, signed a participation agreement
to begin exploration activities offshore Colombia.
The agreement covers the 11-million-acre (4.4 million hectares)
Tayrona block, off Colombia's northern coast in the Caribbean Sea.
Petrobras will be the operator during the exploration phase, and
ExxonMobil will be the operator for the development phase in the
event that gas is discovered on the block.
“ExxonMobil is particularly proud to be part of this opportunity,
as it is but another chapter in our long relationship with the Colombian
hydrocarbon sector and Ecopetrol,” said Jon L. Thompson, president
of ExxonMobil Exploration Company. “We look forward to quickly
concluding the remaining contract negotiations with the Government
ExxonMobil has operated in Colombia since the early 1900's. For
the past 50 years, ExxonMobil has marketed and sold gasoline, fuels
and lubricants in Colombia under its Esso and Mobil brands. It has
also participated in exploration and production activities, operated
a coal mining business, and imported and sold chemicals for industrial
uses for many years.
For more information see www.exxonmobil.com
Posted by Richard Price,
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