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Julia Symmes Cobb, Reuters Your browser does not support the audio element.
Colombia s state-run oil company Ecopetrol said on Dec. 14 it expects to invest between $3.5 billion and $4 billion next year.
The plan is meant to reestablish a path of growth, the company said in a statement, and is predicated on a Brent price of $45/bbl.
Close to 80% of investment will be in projects located in Colombia, Ecopetrol said, with the remaining 20% principally earmarked for projects in the U.S. and Brazil. Some 77% of investment will be concentrated on exploration and production projects, focused on assets with the best strategic fit and profitability, the statement said.