Colombian Ecopetrol to invest nearly $7 billion in 2010, with most to E&P

摘要

Bogota-Ecopetrol, Colombia's publicly traded but state-controlled oil company, announced plans to invest $6.925 billion in its operations in 2010, and nearly two-thirds of that amount, or $4.5 billion, will go into exploration and production. Refining and petrochemical operations will receive $1.3 billion, with a major objective being to upgrade the company's Barrancabermeja and Cartagena refineries to handle the heavy oil being produced in increasing quantities in Meta state, Colombia's "new frontier."