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Foreign Investors Skeptical About Size of Oil Field Discovered in Colombia

LADB Article ID: 56223
Category/Department: Colombia
Date: 1995-03-09
By: LADB Staff

Despite the Colombian government's claim that it has discovered a new oil field that could contain up to 3.9 billion barrels of reserves, foreign investors are skeptical about the real size of the find. Market analysts say the discovery will not have any significant impact on the world petroleum market until independent research is completed to confirm the government's findings. The new deposit, known as Coporo, is located in Medina, 55 miles east of Bogota.

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