Colombia-based integrated oil and gas company Ecopetrol and its partners have placed six bids for deepwater blocks in the Gulf of Mexico.

“The US Bureau of Ocean Energy Management (BOEM) will award the blocks, following completion of final review of bids.”

The US Bureau of Ocean Energy Management (BOEM) will award the blocks, following completion of final review of bids.

Ecopetrol partnered with Murphy Exploration and Production and Repsol E&P USA for five of the blocks, while Apache Corporation and Samson Offshore have bid for one block.

The cumulative bid amount is approximately $40m with Ecopetrol’s share being $12.75m, allowing the company to increase its deep sea hydrocarbon exploration in water depths of more than 800m for ten years.

If awarded with these six blocks, Ecopetrol will increase its participation in this prolific hydrocarbon basin to 122 blocks.

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By GlobalData