May 05, 2026 [Reuters]- Colombia’s state oil company Ecopetrol has signed a $250 million deal with Canada’s Parex Resources to jointly develop five oil fields, Ecopetrol said in a statement on Monday.
The investment will be fully funded by Parex and carried out within five years, the statement added, and will include development of enhanced recovery projects, optimization of water injection and infill drilling. Parex Resources will hold a 50% interest in production, while Ecopetrol retains ownership and operatorship of the fields, the statement said.
Four of the fields are located in Yondo municipality in Antioquia province and one is located in Barrancabermeja, in Santander province.
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