Malaysia, Colombia bolster oil exploration in Latin America
Colombia's Ecopetrol and its Malaysian partner Petronas on October 23 signed a MoU on enhancing a bilateral strategic partnership for oil exploration in Latin America and Mexico in particular.
Colombia's state oil company Ecopetrol and its Malaysian partner Petronas on October 23 signed a memorandum of understanding (MoU) on enhancing a bilateral strategic partnership for oil exploration in Latin America and Mexico in particular (Source: www.petronas.com.my)
Mexico City (VNA) – Colombia's state oi﷽l company Ecopetroland its Malaysian partner Petronas on October 23 signed a memorandum ofunderstanding (MoU) on enhancing a bilateral strategic partnership for oilexploration in Latin America and Mexico in particular.
The MoU, signed by Chief Executive ofEcopetrol Felipe Bayon and Executive Vice President of Petronas Datuk MohdAnuar Taib, aims to develop exploration andproduction projects in the region. It also aims to provide impetus to evaluate possible natural gasprojects, and analyse commercial opportunities for the negotiation and sale ofoil and natural gas internationally. Ecopetrol and Petronas also committedto exchanging their practices, technical and technological information onoffshore exploration and production, natural gas and petrochemicals, production negotiation and crude oil, cost optimisation and improvedrecovery projects, among other areas. Earlier on September25, the two firms inked a deal on exploration and production of an exploratoryblock in the Gulf of Mexico after a bid opened by the Government of Mexico. State oil company Ecopetrol is amongColombia’s leading corporations, with conversion output exceeding 715,000 oilbarrels per day, with international projects in the US, Brazil and Peru. Meanwhile, Petronas is a Malaysianstate-owned oil firm engaged in the exploration, development, sale,transportation and production of crude oil, natural gas and liquefied naturalgas.-VNA
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Colombia's state oil company Ecopetrol and its Malaysian partner Petronas on October 23 signed a memorandum of understanding (MoU) on enhancing a bilateral strategic partnership for oil exploration in Latin America and Mexico in particular (Source: www.petronas.com.my) 
