Colombia discovers biggest oil reserve in decade

Mining and Energy Minister Hernan Martinez said the newly-found 400 million barrels of crude oil was the most important discovery in a decade in the country.

    Colombia discovered a new oil field in the center of the country with a possible oil reserve of 100 million barrels last September.

    "Oil production in this camp will rise to 120,000 barrels per day later this year," Martinez said, adding that output could further rise to 170,000 barrels per day next year due to the discovery.

    Investors, including the Colombian Oil Company, could help modernize oil production facilities in the oil camp and facilitate oil transportation, he said.

    The operators of the Rubiales camp are working at improving the methods of second extraction of the oil, he added, Kazinform cites Xinhua. See www.chinaview.cn for full version.