Lifting its game: Colombia's Ecopetrol
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Ecopetrol unveils $17.5bn cash splash
Colombian state-run producer Ecopetrol will invest $17.5 billion between 2008 and 2015, Juan Fernando Garzon, the company's head of investment projects, revealed.
The investments will go toward exploration, production and buying reserves from other oil companies
This year alone the company will invest $3.76 billion, Reuters quoted Garzon saying at a conference.
In September the company sold 10.1% of itself in a first-round privatisation. The sale raised about $3 billion.