Calgary-based Talisman Energy Inc. and Colombia’s largest integrated producer, Ecopetrol SA, agreed to acquire BP plc‘s affiliate company in Colombia, BP Exploration Co. Colombia Ltd., for close to $1.9 billion. The transaction, in which Talisman would hold a 49% stake and Ecopetrol would be majority owner, includes all of BP’s interests and business in Colombia. BP’s proven and probable reserves in Colombia are estimated at 94 million boe; current production is around 24,000 boe/d. Talisman has worked in Colombia for close to 10 years. It currently participates in 14 exploration and production blocks in the country, including two with Ecopetrol.

©Copyright 2010Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.