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Colombia's ANH agency signs new oil E&P contract
Petroleumworld
CARACAS
Petroleumworld.com 08 10 06
Colombia's ANH, signed a new $1.3 million oil exploration and production contract with Ramshorn, a subsidiary of Narbors Industries (NBR), in an area of 36,000 hectares in the Llanos foothills, near the Venezuelan border, ANH said Tuesday in a statement.The ANH agency also said in the statement that in July, the Colombian companies Petrotesting and Conequipos drilled oil wells located in the Llanos foothills and in the Magdalena River Basin respectively, snd U.S.-based Argosy Energy drilled another well in the Magdalena River.
In 2006, ANH has signed 22 exploration contracts and ten preliminary contracts.
ANH hopes to sign 30 exploration and production contracts this year.
Colombia produced an average of 519,350 barrels a day in 2005, and needs to find new oil reserves to avoid losing its oil self-sufficiency by 2012
Petroleumworld 09 08 06
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