Colombia Eyes $500 Million in Energy Spending in Shale Gas
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Colombia, South America’s third-largest producer of oil, expects this year’s auction of so-called unconventional energy reserves to attract at least $500 million in investment.
Royal Dutch Shell Plc, Exxon Mobil Corp., and Chevron Corp. have shown interest in Colombia’s reserves of gas trapped in shale rock and other unconventional sources, government Hydrocarbons Director Julio Cesar Vera Diaz said yesterday in an interview in Cartagena in northern Colombia.