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Colombia Announces Discovery of New Oil Field in Central Region

LADB Article ID: 56235
Category/Department: Colombia
Date: 1995-03-02
By: LADB Staff

On Feb. 20, the state-run oil company Ecopetrol reported that five foreign companies exploring for oil in Colombia's central departments of Cundinamarca and Meta had discovered a huge oil field that could contain up to 3.9 billion barrels of oil. If accurate, the new discovery would increase Colombia's known reserves more than three-fold, although further exploration must be done to confirm the find. The five companies Esso, Triton, Total, BPX, and Chevron had stepped up their exploration efforts in those departments after the 1992 discovery of the Cusiana and Cupiagua oil fields in the northeastern Casanare region, which are estimated to contain about 2 billion barrels of crude reserves.

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