December 4, 2009 / 9:15 AM / 10 years ago

India's Reliance in deal with Colombia's Ecopetrol

MUMBAI, Dec 4 (Reuters) - Indian energy major Reliance Industries (RELI.BO) said on Friday one of its units signed a deal with Colombian state oil firm Ecopetrol (ECO.CN)(EC.N) for two deepwater blocks in Colombia.

Under the deal, Ecopetrol will take a 20 percent stake in the Borojo North Block 42 and the Borojo South Block 43, which together cover an area of about 8,000 square kilometres in water depths ranging from 60-1,500 metres, Reliance said in a statement.

Reliance’s unit will hold the rest of the stake in the blocks and will be their operator. The deal is subject to approval from Colombia’s upstream regulator. (Reporting by Pratish Narayanan; Editing by Ranjit Gangadharan) ((pratish.narayanan@thomsonreuters.com; +91 22 6636 9202; Reuters Messaging: pratish.narayanan.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com))

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