Ecopetrol Eyes Carlyle’s Colombia Asset to Boost Reserves (2)

Colombia’s state-owned Ecopetrol SA is considering buying Carlyle Group’s oil driller in the nation as it looks to boost reserves and output, its top executives said in an interview.

Carlyle Group is seeking to sell SierraCol Energy Ltd., Colombia’s biggest independent oil producer, for $1.5 billion, Reuters reported last month. The assets were purchased from Occidental Petroleum Corp. in 2020 for about $825 million.

Rafael Guzman, left, and Ricardo Roa during an interview on April 1.

Photographer: Nathalia Angarita/Bloomberg

“We were invited to the process and are currently analyzing the option,” Rafael Guzman, Ecopetrol’s vice president of hydrocarbons, said Tuesday in an interview in the company’s headquarters in Bogotá, speaking alongside Chief ...