JX Nippon Farms Into Brazil Block

摘要

Japan's JX Nippon has agreed to acquire a 30% stake in a Brazilian offshore exploration block from Colombia's state - controlled oil producer Ecopetrol. The deal, which Ecopetrol says still needs approval from the Brazilian upstream regulator ANP, would see JX Nippon farm into Block FZA - M - 320, located in shallow waters in northern Brazil's Equatorial Margin region. Ecopetrol is currently the sole license holder for that block, which it acquired during a 2013 bid round ( related ).