Ecopetrol, Talisman Acquire BP Unit for $1.75bn

Ecopetrol and Talisman Colombia Holdco have completed the acquisition of BP Exploration (Colombia) for $1.75bn.

Ecopetrol will have a 51% share and Talisman will hold the remaining 49%.

The new firm was named Equion Energia, with ownership of all assets and businesses held by the BP subsidiary in Colombia.

About 90,000 barrels of oil equivalent per day are produced and operated by the firm, of which it has direct ownership of 27,000boe per day.

Equion also has proven and probable reserves of 94 million barrels before royalties.

Equion will define its long-term business plan in line with the strategies of Ecopetrol and Talisman, using their industry expertise and levels of industrial safety and environmental protection, according to Ecopetrol.