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Colombia Woos Deep-Water Drillers With Improved Contracts

Royal Dutch Shell Plc, Repsol SA and BG Group Plc are among international oil companies to express interest in Colombian deep-water blocks after contract terms were sweetened, a government official said.

Companies drilling in deep water will be able to recover 200 million barrels before the government begins taking a 30 percent royalty, with operators in ultra-deep water allowed 300 million barrels, said Deputy Energy Minister Orlando Cabrales.