Word: cupiagua
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...control are also opening their arms to the capital, technology and management skills that international oil firms offer. Venezuela's state-owned oil industry took in foreign partners last year, entering joint ventures with Conoco, Mitsubishi and Shell. Foreign firms have flocked into Colombia to develop the Cusiana and Cupiagua fields, which together constitute the largest find in the western hemisphere since wildcatters struck oil in 1967 in Alaska's Prudhoe...
...explore the area, it sold an 80% share to British Petroleum, which took in France's Total as an equal partner. Today the consortium is part of a joint venture with the state oil company, Ecopetrol, which is developing an estimated 2 billion bbl. in Cusiana and the neighboring Cupiagua field. That could be just the beginning: the partners' plan to invest $6 billion over the next 40 months to bring in Cusiana and explore other sites in the foothills of the Andes...
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