Ecopetrol plans to drill its 1st well in Mexico in 2020

The Colombian company Ecopetrol obtained the approval of the National Hydrocarbons Commission (CNH) for the exploration plan through its association with Pemex for block 8 (October) and block 6 with Petronas (November).

On the one hand, the exploration plan for Block 6 considers the purchase of seismic, geological, and geophysical analysis, seismic interpretation, and drilling of the first exploration well in Mexico in 2020. On the other, the exploration plan for block 8 considers the seismic license, processing, and interpretation required to identify the potential prospects in the block.

Geographically, Ecopetrol is a vertically integrated oil company with a presence mainly in Colombia and with activities in Peru, Brazil, Mexico, and the Gulf Coast of the United States.

To date, the Republic of Colombia controls 88.49% of Ecopetrol's voting capital. The company is among the largest state companies in the world, with a ranking of 300 according to the Forbes Global Ranking 2000-2018. Play a key role in the local Colombian hydrocarbons market.

The intellectual property of Ecopetrol

In 2018, the company declared two industrial secrets that strengthen its competitive advantages in the exploration and transportation of hydrocarbons. The Colombian and international authorities granted him 15 new patents, one in Mexico and the other in Ecuador.

Ecopetrol already has 87 patents in Colombia, the United States, Mexico, Russia, Peru, Venezuela, Ecuador, Brazil, Nigeria, Indonesia, and Malaysia. Its exploration and production business segment includes exploration, development, and production activities in Colombia and abroad. He began local exploration in 1955 and international exploration in 2006.

Lastly, exploration and production activities are carried out directly by Ecopetrol S.A., and through some of its subsidiaries, as well as through joint ventures with third parties.