ASSAM, takes stake in petroleum contract in Colombia
Assam Company India Limited (acyl) bought 70% stake in an oil contract on the block El Triunfo in Colombia in an operation whose preliminary agreement was signed in mid-February with the government. Although the firm did not disclose the amount of the transaction, announced that it plans to drill in July this year to begin production four monthslater, with an estimated investment of between 10 and 15 million dollars, after getting some permits for the National hydrocarbons. Acyl plan and its partners to produce between 6,000and 8,000 barrels of oil.
Source: Portafolio.