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Colombia aims for offshore wells to offset drop

Wednesday, April 8, 2015

Colombia’s state-run oil company Ecopetrol said Tuesday that it would be focusing on developing new offshore oil wells to mitigate the damage caused by falling oil prices.

Ecopetrol president Juan Carlos Echeverry also indicated that production would also be increased in high-yield wells already in existence. To that end, 20 oil fields responsible for 80 percent of onshore production will be targeted.

Source: Colombia Reports