Curtis Advises Ecopetrol on Strategic Colombian Oil Block Acquisition

Curtis has advised Ecopetrol S.A., Colombia's national oil company, on its successful acquisition of Repsol's 45% stake in Block CPO-09 in Colombia for USD$ 452 million. This strategic transaction, which exemplifies the Firm's market-leading expertise in advising national oil companies on complex cross-border energy deals, was concluded on February 5, 2025, making Ecopetrol the holder of 100% participation interest in this strategic asset in Colombia's Piedemonte Llanero region.

The acquisition was executed under Ecopetrol's preemption right under its Joint Operating Agreement (JOA) with Repsol for CPO-09. The transaction has received all required regulatory approvals, including clearance from Colombia's Superintendency of Industry and Commerce and the execution of the corresponding amendment to the Hydrocarbon Exploration and Production Contract by the National Hydrocarbons Agency.

The Curtis team was led by partners Elisa Botero (New York/Bogota) and Marc Hammerson (London), supported by associates Maria Paulina Santacruz and Agustin Patiño (Bogota), and trainee solicitor Sebastian Fender (London). This deal further solidifies Curtis's position as a go-to firm for national oil companies in their most significant upstream acquisitions and strategic energy transactions.

About Curtis

Curtis, Mallet-Prevost, Colt & Mosle LLP is a leading international law firm with exceptional experience advising national oil companies and sovereign clients worldwide. The firm's International Energy, Oil and Gas practice provides comprehensive counsel across the full spectrum of oil and gas activities, from upstream and downstream contracts to sector legislation and infrastructure development. Founded in 1830, Curtis has 19 offices across the United States, Latin America, Europe, the Middle East and Asia. The firm represents a diverse client base, including governments, state-owned companies, multinational corporations, and financial institutions.