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Ecopetrol

Ecopetrol said it will drill possibly hundreds of new wells in Colombia’s Rubiales oil field, depending on oil prices, to maintain field output. The announcement followed the recent decision of Canada’s Pacific Exploration to turn over its 43% stake in Rubiales to the Colombian company. The handover gives Ecopetrol complete control of the field and is expected to add 60,000 B/D to company oil production. Ecopetrol President Juan Carlos Echeverry said the company would drill 35 Rubiales wells in the last 3 months of the year.


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