Columbian firm buys 20 percent stake in RIL blocks

MUMBAI - Columbia’s state-run energy firm Ecopetrol has bought a 20 percent stake in two deepwater oil blocks being explored by Reliance Industries Ltd (RIL), the Indian company said Friday.

Reliance Exploration and Production DMCC, a wholly owned subsidiary of RIL, will retain the remaining stake and ownership in these blocks, the company said in a statement.

The two deepwater blocks cover an area of 8,000 square km.