SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES
EXCHANGE ACT OF 1934
August
2010
Commission
File Number: 333-153452
ECOPETROL
S.A.
(Exact
name of registrant as specified in its Charter)
Carrera 7
No. 37 – 69
BOGOTA –
COLOMBIA
(Address
of registrant’s principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.
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Form
20-F
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x
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Form
40-F
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o
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
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Yes
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o
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No
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x
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Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
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Yes
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o
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No
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x
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Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes
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o
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No
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x
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If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-
N/A
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PRESS
RELEASE
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The acquisition includes all
of BP´s business in Colombia
Ecopetrol
and Talisman acquire BP Exploration
Company
Colombia Limited
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Includes BP shares in
association contracts, transport systems and contracts with the ANH in the
Colombian Caribbean.
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Acquisition is part of
Ecopetrol’s strategy to increase reserves and production and strengthen
its transport and natural gas
businesses.
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Acquisition is worth US$1,750
million, plus additional US$145 million return of equity to Ocensa´s
shareholders previously agreed
thereby.
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Ecopetrol will own 51% of the
acquired company and Talisman
49%.
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Ecopetrol
S.A. (“Ecopetrol” or the “Company”) and the Canadian company Talisman reached an
agreement today with BP to acquire its affiliate company in Colombia, BP
Exploration Company Colombia Limited, owner of all the company's interests and
business in Colombia.
The
US$1,750 million dollar deal plus additional US$145
million return of equity to Ocensa´s shareholders previously agreed thereby,
gives 51% interest to Ecopetrol and 49% to Talisman, and includes assets in gas
and oil exploration and production as well as oil transportation and gas
marketing.
“I am really pleased with this deal.
It fits into our strategic plan perfectly, bringing new reserves, production and
potential areas for our exploratory portfolio. It also strengthens our
transportation and natural gas business and increases our share in a group of
fields in which we have experience and knowledge", commented Ecopetrol’s
CEO, Javier Gutiérrez.
Indeed,
BP Exploration Colombia’s 2P (proven and probable) reserves are estimated at 94
million barrels and its current production is approximately 24,000 equivalent
barrels a day in Colombia.
The
acquisition comprises the BP Exploration Colombia’s stake in the Piedemonte
Llanero association contracts, one of the most attractive basins for the oil
industry in Colombia.
The
contracts included as part of the acquisition are Piedemonte, Rio Chitamena,
Tauramena and Recetor, which cover the Cusiana, Cupiagua en Recetor, Pauto and
Floreña fields. These fields join Cupiagua and Cupiagua Sur, operated by
Ecopetrol since July 1, 2010, after completion of the Santiago de las Atalayas
association contract.
Additionally,
the acquisition includes the shares BP Exploration Colombia has in the RC4 and
RC5 exploration and production contracts which were signed by the National
Hydrocarbon Agency (ANH) and which are located on the Colombian Atlantic Coast
(offshore).
Unidad
Imagen Corporativa Tel: 6209720 – Cel 3204369978 mtellez@ecopetrol.com.co ww.ecopetrol.com.co
The
acquisition also includes BP Exploration Colombia’s shares in Oleoducto Central
S.A.-Ocensa (24.8%), Oleoducto de Colombia (14.57%), Oleoducto del Alto
Magdalena (4.25%), and Transgas de Occidente (20%). It also includes BP´s
Exploration Colombia's participation in the gas plants in the Casanare, which
are currently producing more than 200 million cubic feet per day.
BP
Exploration Colombia currently employs close to 470 local workers with ample
experience in the oil industry; the majority of which will keep their jobs
within the new operating company, now to be owned by Ecopetrol and Talisman,
with which Talisman and Ecopetrol hope will give continuity to an operation
which has been widely considered as safe and efficient.
The new
company will continue with its already planned policies and activities in order
to comply with existing commitments it has with contractors and neighboring
communities, following its policy of carrying out a socially responsible
operation.
Talisman
is a Canadian company that has been present in Colombia for over a decade. It
participates in 14 exploration and production blocks in the country, among which
are two in association with Ecopetrol and three with Hocol, a member of the
Ecopetrol Business Group. One of these latter blocks is Niscota, where a
discovery was recently announced in the Huron well. Ecopetrol and Talisman are
also partners in two blocks in Peru (101 and 134).
The
closing of the acquisition is subject to completion of normal legal procedures
with Colombian authorities.
Bogotá
D.C., August 3, 2010
Ecopetrol is Colombia's
largest integrated oil company and is among the top 50 oil companies in the
world and the four largest oil companies in Latin America. Besides Colombia,
where it accounts for 60% of total production, the Company is involved in
exploration and production activities in Brazil, Peru and the United States
(Gulf of Mexico). Ecopetrol has the principal refinery in Colombia, most of the
network of oil and multiple purpose pipelines in the country, and it is
considerably increasing its participation in biofuels. The company is in the
securities markets of Colombian and the United States. Its shares are
traded on the stock exchanges of Colombia, New York and Lima. It
currently has a production of approximately 600 thousand barrels of petroleum
equivalent per day. For more information:
www.ecopetrol.com.co
Talisman Energy Inc. is a
global, diversified, upstream oil and gas company, headquartered in Canada.
Talisman’s three main operating areas are North America, the North Sea and
Southeast Asia. The Company also has a portfolio of international exploration
opportunities. Talisman is committed to conducting business safely,
in a socially and environmentally responsible manner, and is included in the Dow
Jones Sustainability (North America) Index. Talisman is listed on the Toronto
and New York stock exchanges under the symbol TLM. Website:
www.talisman-energy.com.
Contact
us for any additional information:
Investor
Relations
Claudia
Trujillo
Phone:
+571-234-5190
Email: investors@ecopetrol.com.co
Unidad
Imagen Corporativa Tel: 6209720 – Cel 3204369978 mtellez@ecopetrol.com.co ww.ecopetrol.com.co
Media
Relations (Colombia)
Mauricio
Téllez
Phone: +
571-2345377
Fax:
+571-2344480
Email:
mtellez@ecopetrol.com.co
Website: www.ecopetrol.com.co
Unidad
Imagen Corporativa Tel: 6209720 – Cel 3204369978 mtellez@ecopetrol.com.co ww.ecopetrol.com.co
Date: August 3, 2010
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Ecopetrol
S.A.
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By:
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/s/ Adriana
M. Echeverri
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Name:
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Adriana
M. Echeverri
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Title:
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Chief
Financial Officer
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