Colombia sitting on big oil reserves
By Ed Crooks in London
Published: April 1 2008 22:04 | Last updated: April 1 2008 22:04
Colombia’s heavy oil area could hold 20bn barrels of recoverable resources, giving the country greater reserves than leading producers such as Mexico and Algeria, said its natural resources agency.
Foreign investment in Colombia’s oil and gas industry is booming, and the country hopes to lift oil production to 1m barrels a day in the next decade, from about 550,000 b/d currently.
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