A Colombian friend passed me an article from El Tiempo (Colombia’s daily) today, but it was published May 7. The report is that ExxonMobil will be recommencing its exploration in the Colombian Caribbean region, in a consortium with two state oil companies: Brazil’s Petrobras, and Colombia’s ECOPETROL.
A Colombian friend passed me an article from El Tiempo (Colombia’s daily) today, but it was published May 7. The report is that ExxonMobil will be recommencing its exploration in the Colombian Caribbean region, in a consortium with two state oil companies: Brazil’s Petrobras, and Colombia’s ECOPETROL.
Exxon hadn’t been in Colombia in ten years, and is coming back now. In 1995, Exxon was exploring in the department of Huila, but sold its participation to Petrobras. The Caribbean is thought to have high potential, and hasn’t been explored in 20 years. The deal is, Exxon is 40% participant, Petrobras 40%, and ECOPETROL 20%.
The coincidence part? Well, there is a strike going on by the workers of ECOPETROL, who are trying to prevent the privatization of the company, which is taking place by way of deals with multinationals in which ECOPETROL gets smaller and smaller participation in important fields and projects.
