(Alliance News) - Echo Energy PLC on Friday announced it has signed a five-year cooperation agreement with GTL International SA, a subsidiary of Bolivian energy production and supply company UruboCorp.
The Latin American upstream oil and gas company said the agreement will include joint efforts to find and assess new business development opportunities in the energy sector within a six month period of exclusivity, and to further strengthen existing local relationships.
"The framework now in place under the cooperation agreement will enable the company and [GTL International] to combine their respective skillsets taking the best of both to work together to seek to originate and execute transactions across the energy sector in Bolivia at a point in time where we see significant and potentially highly commercial opportunity in-country," said Chief Executive Martin Hull.
Shares in Echo Energy were up 4.5% at 0.58 pence in London on Friday.
By Zoe Wickens; zoewickens@alliancenews.com
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Echo Energy (ECHO)