Petroleum company Shell has announced plans to invest $100 million into the exploration of oil fields in Colombia, according to financial publication La Republica.
Speaking at the eighth International Mining and Petroleum Congress in Cartagena Friday, Shell Colombia president Eduardo Rodriguez said the company was developing operations in the Eastern Plains region, alongside the northern Colombian departments of La Guajira and Magdalena.
After the company completed a number of seismic studies in La Guajira searching for deep water hydrocarbons, Rodriguez said new oil opportunities in the region were promising and that the company would continue to work in the area.
Gerald Schotman, executive vicepresident of research and development at Shell, said a deep water platform like the “Perdido” platform in the Gulf of Mexico, which extracts crude from a depth of 8,000 feet, would eventually be set up in La Guajira, pending more positive results from the field.
