Ecopetrol Submitted the Highest Bids for Three Blocks in the Brazil Bidding Round

Ecopetrol Submitted the Highest Bids for Three Blocks in the Brazil Bidding 
Round 
BOGOTA, Colombia, May 15, 2013 /CNW/ - Ecopetrol S.A. (NYSE: EC; BVC: 
ECOPETROL; TSX: ECP) announces that it submitted the highest bids for three 
exploratory blocks in the 11(th) Bidding Round carried out yesterday by the 
Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis (National Agency 
of Petroleum, Natural Gas and Biofuels, or ANP) of Brazil in Rio de Janeiro. 
Ecopetrol has a 100% interest in the highest bids for the POT-M-567 and 
FZA-M-320 blocks and a 50% interest in the highest bid for the CE-M-715 block, 
which it submitted with Chevron Brasil Ventures APS. 
The three blocks comprise an area of approximately 1,862 sq kilometers in the 
Potiguar, Foz de Amazonas and Ceara offshore basins. 
In addition to the interest it is expected to have in these blocks, Ecopetrol 
Oleo e Gas do Brasil has an interest in the following blocks: (i) BMC29, 
where, jointly with Anadarko, it is carrying on the appraisal phase of the 
Itauna discovery; (ii) BM-C-44, where it is exploring jointly with Petrobras 
and Petrogalp; and (iii) PAMA 10, 11 and 12 where it is exploring jointly with 
Petrobras and Vale. 
The execution of the concession contracts is expected to take place in three 
months, after the ANP approves the offers, pursuant to Brazilian law. 
The results of the 11th Brazilian Bidding Round strengthen Ecopetrol's 
exploration portfolio. In addition, exploration in these areas is in line with 
the strategic goals of the company in Brazil, where it works in association 
with companies of recognized expertise. 
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Ecopetrol is Colombia's largest integrated oil & gas company, where it 
accounts for 60% of total production. It is one of the top 40 oil companies in 
the world and the fourth largest oil company in Latin America. The Company is 
also involved in exploration and production activities in Brazil, Peru and the 
United States Gulf Coast, and owns the main refineries in Colombia, most of 
the network of oil and multiple purpose pipelines in the country, 
petrochemical plants, and is entering into the biofuels business. 
This release contains forward-looking statements relating to the prospects of 
the business, estimates for operating and financial results, and those related 
to growth prospects of Ecopetrol. These are merely projections and, as such, 
are based exclusively on the expectations of management concerning the future 
of the business and its continued access to capital to fund the Company's 
business plan. Such forward-looking statements depend, substantially, on 
changes in market conditions, government regulations, competitive pressures, 
the performance of the Colombian economy and the industry, among other 
factors; therefore, they are subject to change without prior notice. 
Website: www.ecopetrol.com.co 
(Logo: http://photos.prnewswire.com/prnh/20090209/ARM001LOGO )  
Investor Relations, Alejandro Giraldo, Phone: +571-234-5190, Email:  
investors@ecopetrol.com.co; Media Relations (Colombia), Mauricio  Tellez, 
Phone: + 571-2345377, Fax: +571-2344480, Email:  mtellez@ecopetrol.com.co 
http://www.ecopetrol.com.co 
http://photos.prnewswire.com/prnh/20090209/ARM001LOGO 
SOURCE: Ecopetrol S.A. 
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CO: Ecopetrol S.A.
NI: OIL UTI  
-0- May/15/2013 22:44 GMT
 
 
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