Colombian state-owned oil company Ecopetrol is making progress in its approach to Venezuela's oil industry by participating in an international congress in Caracas, where it seeks to identify and consolidate business opportunities.
“Ecopetrol’s participation in this event (…) reflects the company’s interest in identifying opportunities that contribute to the revival of its hydrocarbon business, exchanging experiences, and analyzing growth prospects for the region’s energy sector,” the state-owned company said in a statement.
Ecopetrol's president, Joaquín Gutiérrez, who was sworn in on September 24 after a period of several changes in the presidency, announced that a "new stage of management aimed at the rebirth" of the company is beginning.
The International Oil and Gas Congress, held in the Venezuelan capital, brought together industry leaders to analyze the country's resurgence as a relevant player in the global hydrocarbon sector.
“Venezuela remains a market of interest for the energy industry due to the magnitude of its resources and the development potential associated with the hydrocarbon sector,” said Colombia’s largest company.
In this context, the company "seeks to strengthen its participation in the main discussion forums of the sector in order to evaluate alternatives that generate value" for Colombia.
According to the statement, Ecopetrol designed and implemented the protocols and measures necessary to ensure compliance with the activities authorized by the OFAC general licenses.
