*Colombia’s state oil company, Ecopetrol, has announced that it will invest approximately US$1bn in exploration and production from 2024-2026. The investment plan is aimed at expanding the company’s reserves of crude oil and natural gas, as well as boosting production, and will include offshore exploration and development. Ecopetrol said that it is planning to incorporate prospective offshore gas reserves that could total 6trn cubic feet. These investments, the company said, “will allow Ecopetrol to restore its reserves, ensuring the necessary availability of energy to satisfy national demand in the medium and long term”.
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LatinNews Daily - 2 October 2024
In brief: Colombia’s Ecopetrol announces US$1bn investment plan
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