Word: cusiana
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...tight national 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...
COLOMBIA. The Cusiana field yielded nothing more than a pair of dry holes before the Triton Energy Corp. of Dallas staked a claim in the mid-'80s. Because Triton lacked the capital to 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...
...rebels have sabotaged oil installations more than 500 times since 1987, and have lately taken to kidnapping and assassinating local officials in an attempt to extort some of the oil wealth that has flooded into the region. "It's a plague," said Gustavo Wilches, governor of the area where Cusiana is located, in January. "The discovery of petroleum is destroying us." The very day he spoke, guerrillas shot down a helicopter over an oil field and others kidnapped the husband of one of the area's most powerful politicians...
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