One-Page Deal Sheet
Ecopetrol and Eni Jointly Develop in Gulf of Mexico
Ecopetrol S.A. Eni S.P.A
Announced Date
November 20,2008
Close Date
November 20,2008
Transaction Type
JV
Enterprise Value (EV)($MM)
220
Asset/Basin:
{"Gulf of Mexico"}
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
Ecopetrol and Eni will drill 5 prospects in the USA Gulf of Mexico. The two companies also signed a memorandum of understanding seeking to develop exploration and production opportunities in South America and other countries. Ecopetrol S.A. today signed a participation agreement with Eni, an Italian oil company, to drill at least five deep sea prospects in the Gulf of Mexico (GoM) between 2008 and 2012. The five prospects will be selected from a portfolio of prospects to be presented by Eni and evaluated by both companies.
Pursuant to the agreement, Ecopetrol will hold between 20% to 25% of…
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