Colombia's Ecopetrol may sell oil deposits

Aug 05, 1999 02:00 AM

Colombia's state oil company Ecopetrol is studying the possibility of selling 10 potential oil deposits that have an estimated reserve of between 1.5 bn and 5 bn barrels, company president Carlos Rodado said. The deposits are situated near already explored sites and have an adequate transport infrastructure, Rodado added.
Colombia's estimated hydrocarbon reserves are 37 bn barrels, Rodado said.
Ecopetrol announced it would no longer be involved in exploration but would focus on selling prospects to reduce financial risk.

Source: BNA via Iinoil
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