Investments of US$1.8mn this year include developing Alvopetro's Caburé field, part of the Recôncavo basin's first reservoir-to-wire project operated by Imetame.
More businessmen have confessed having paid bribes to public officials during the Kirchner governments. Meanwhile, authorities met with officials from the World Bank to discuss the continuation of works affected by the ongoing probe.
Colombia's state oil company has revised down its full-year investment guidance, citing improved capital discipline and a decision to leave some projects "for a later date".
Ecopetrol S.A. Announces 2018 Second Quarter Results