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    Repiglican Roast

    A spirited discussion of public policy and current issues

    Location: The mouth of being

    I'm furious about my squandered nation.

    Monday, September 29, 2008

    Nine oil companies invest in Colombia oil exploration


    The companies include oil giants Shell and Exxon Mobil, Australian mining and primary resources company BHP Billiton, and the Korean National Oil Company, as well as companies from Canada and Peru.

    "These companies have three years to estimate the potential of the area and choose more specific places to carry out exploration," said ANH director Armando Zamora.

    The search is being carried out in eight blocs totally 127,000 square kilometers (49,000 square miles) located in the eastern Colombia departments of Meta, Arauca, Casanare, Vichada, Guania and Guaviare.

    Colombia currently produces some 585,000 barrels of crude per day, and hopes to produce a million barrels a day by 2020.




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