The percentage of participation in the assets that would be the subject of the eventual acquisition and the amount to be paid by Ecopetrol are still the subject of analysis.

The Colombian state oil company Ecopetrol reported this Friday that it is in talks with the American oil company Occidental Petroleum to possibly buy a stake in CrownRock, also based in the United States.

"The percentage of participation in the assets that would be the subject of the eventual acquisition and the amount to be paid by Ecopetrol, are the subject of analysis and evaluation by the administrative bodies of the Company and the results are subject to negotiations and terms that can be defined with OXY," the Colombian firm said in a brief statement.

Likewise, it indicated that the signing of definitive agreements, eventual financing and other procedures leading to the successful closing of the transaction would be subject to statutory and regulatory approvals applicable to the Ecopetrol Group.

As recalled, at the end of 2023 OXY acquired CrownRock to strengthen its operation in the Permian basin in the United States, where oil is produced using the fracking technique.

Ecopetrol's intention to take over part of the company makes sense, since the Colombian oil company operates there with significant production. If this operation is given the green light, its participation in this important basin would increase.