Ecopetrol S.A. has submitted the best offers for 12 exploratory blocks in the Round Colombia 2012, following the opening of bidding held by the National Hydrocarbons Agency (Agencia Nacional de Hidrocarburos, ANH) in Cartagena,Colombia.

Of the 12 blocks, Ecopetrol holds a 100% stake in six of them, and the remaining six in partnerships with Anadarko, ExxonMobil, Repsol, and Hocol. The total area of the blocks is approximately 3.1 million hectares and are located in the following basins: Llanos, Mid Magdalena Valley, Caguan-Putumayo, Catatumbo, Cordillera, and the Colombian Caribbean offshore.

In this round, the ANH auctioned blocks for exploration and production of unconventional hydrocarbons. Ecopetrol has carried out activities in this type of hydrocarbons, and yesterday's bidding should allow it to increase its strategic position in five new blocks. Ecopetrol holds a 100% stake in three blocks, and two of the blocks are held in partnership with ExxonMobil.

Tags: Ecopetrol S.A.