Ecopetrol (EC) is considering acquiring Carlyle Group's (CG) Colombian oil driller, SierraCol Energy, to boost reserves and output, Bloomberg reported late Tuesday, citing an interview with Ecopetrol executives.
Reuters reported last month that Carlyle is looking to sell SierraCol for $1.5 billion, Bloomberg said.
"We were invited to the process and are currently analyzing the option," Rafael Guzman, Ecopetrol's vice president of hydrocarbons, told Bloomberg. "We have yet to decide if we present an offer.
Carlyle Group didn't immediately respond to MT Newswires' request for comment.
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