Brazil's Petrobras to keep stake in Colombia's deepwater block Tayrona -executive

Brazil's state-controlled oil company Petrobras has abandoned a plan to sell its 44% stake in a promising offshore gas project it shares with Colombia's Ecopetrol in the Andean country, a Petrobras executive said at a Houston energy conference on Monday. Petrobras and Ecopetrol last year announced a natural gas discovery at the Uchuva-1 deepwater well in the Tayrona block, 32 kilometers off Colombia's coast.

Brazil's state-controlled oil company Petrobras has abandoned a plan to sell its 44% stake in a promising offshore gas project it shares with Colombia's Ecopetrol in the Andean country, a Petrobras executive said at a Houston energy conference on Monday.

Petrobras and Ecopetrol last year announced a natural gas discovery at the Uchuva-1 deepwater well in the Tayrona block, 32 kilometers off Colombia's coast. Petrobras two years earlier had offered its stake for sale following poor exploration results at a previous well, Orca-1. Petrobras operates the Tayrona block.