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The Frontera chairman called the move a “very strategic acquisition” that will support the firm’s push to reduce transportation costs.

Researchers were able to find the “optimal operating parameters” and the rate of air injection that simulate the emulsions recorded at industrial level.

"We are very pleased with the arrival in Mexico, a new milestone in the history of Ecopetrol," said company president Felipe Bayón Pardo.

Ecopetrol said that it “rejects these illegal actions” that endanger people, damage the environment, and harm neighboring communities.

"Ecopetrol emphatically rejects these illegal actions," said the oil company.

The company said that its Spanish subsidiary “is currently inactive and is no longer needed by the business group.”

After receiving approval from Mexican authorities, Ecopetrol has formally launched ECP Hidrocarburos México S.A. de C.V.

Bayón is expected to formally take over on September 15. The company did not reveal why Echeverry was stepping down.

Ecopetrol owns a 30% stake in the Anadarko-operated Warrior-2 well. The exact volume of the discovery is still under evaluation.

Repairs have not been completed due to “continued harassment by firing helicopters” and “anti-personnel mines,” said Ecopetrol.