Norwegian giant StatoilHydro has joined forces with Colombian state-run outfit Ecopetrol to explore jointly in the US Gulf of Mexico.
Under the terms of the deal, the pair will drill three or more wells in the coming years. StatoilHydro said the companies will also further mature prospects to potential drilling. StatoilHydro will remain the operator for all prospects. Ecopetrol will farm in to the wells covered by the agreement, taking stakes of around 20% to 30%.
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