Ecopetrol and Pacific Rubiales Energy have agreed not to extend the Rubiales risk participation and Piriri joint venture contracts that expire in 2016.

Ecopetrol will be examining different options for the operation of the Rubiales field. For its part, Pacific Rubiales Energy will explore the possibility of presenting a proposal to operate this asset.

Both Ecopetrol and Pacific Rubiales Energy have expressed interest in continuing to develop business opportunities for the benefit of both parties and that of the country.

Tags: Ecopetrol S.A., Pacific Rubiales Energy Corp.