SierraCol Energy to invest $120 mn in its operations in Colombia by 2021

The oil company SierraCol Energy, belonging to the Carlyle Group, will assume the operations and interests on the assets acquired from Occidental in Colombia. Occidental Petroleum Corporation sold all of its onshore assets in Colombia, which currently provide production, together with its partners, of around 85,000 barrels of oil per day. SierraCol, which will have its main offices in Bogotá, will make an investment of around $ 120 million in 2021 in its exploration and production assets, in the Llanos, Magdalena Medio and Putumayo basins, and will carry out its activities with the purpose of become a leading company in the oil sector nationwide.

Source: Valora Analitik