ECOPETROL seeks investment; unveils offering

Colombia is trying to turn around its flagging petroleum exploration efforts with offerings of new acreage and new incentives.With aims to resuscitate their country's ailing oil and natural gas exploration and production sector, a delegation from Colombia recently traveled to the US and Canada in an attempt to drum up foreign investment interest in their country (OGJ, Oct. 25, 1999, Newsletter).And with the potential of becoming an oil importer looming over the country's not-too-distant future if no new major discoveries are made, state oil firm Empresa Colombiana de Petróleos SA (ECOPETROL) has taken it upon itself to sweeten the incentives for foreign capital investment.Amo...

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