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colombia

Oxy transformed Colombia from oil importer to exporter with the 1983 discovery of the billion-barrel plus Caño Limón oil field located in the Llanos Basin in the northeastern part of the country. Oxy is the operator of the Caño Limón field where its share of production averaged 28,000 BOE per day in 2006.

In 2005, Ecopetrol approved development of the Caricare field, an exploration discovery under the Rondon Association Contract, adjacent to Caño Limón. Production from this field, where Oxy holds a 35 percent working interest, began in May 2006. Production from the field and two adjacent fields was 4,000 BOE per day in 2006.

In 2005, Oxy signed a new agreement with Ecopetrol for an EOR project in the La Cira-Infantas field, located in central Colombia. In December 2006, Oxy completed the second pilot phase and agreed with Ecopetrol to enter into a third and commercial phase of the project. In 2006, Oxy’s share of production was 1,000 BOE per day. Production from La Cira-Infantas is transported by the Ecopetrol pipeline and sold to an Ecopetrol refinery. Additionally, Oxy holds various working interests in eight exploration blocks.