Colombia's Ecopetrol May Bid
To Seek Oil In Guatemala
CARTAGENA, Colombia -(Dow Jones)- Colombia's
state-controlled oil company Ecopetrol SA (ECOPETROL.BO)
may bid for exploration rights in areas in
Guatemala, the company's chief executive
said Thursday.
The company has recently looked outside
Colombia in a bid to expand its reserves.
Ecopetrol already seeks oil in Peru, Brazil
and the Gulf of Mexico.
Additionally, CEO Javier Gutierrez said, the
company plans to expand the export capacity
of its port of Covenas on the Caribbean
coast to allow the loading of ships with a
capacity of 2 million tons, up from 1
million tons.
Other companies, such as Occidental
Petroleum (OXY) and BP PLC (BP), use the
facilities at Covenas to export oil and may
participate in the financing of the project,
Gutierrez said, though he didn't specify how
much investment the project would require.
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