Ecopetrol will invest between $3.5 billion and $4 billion during 2018, the majority in production and exploration projects. BOGOTA, Nov 22 (Reuters) – Colombia’s state-run oil company Ecopetrol said on Wednesday it would invest between $3.5 billion and $4 billion during 2018, largely in production and exploration projects. The company, the Andean nation’s largest, said in a filing to the financial regulator that it expected to produce between 715,000 and 725,000 barrels per day (bpd) in 2018. This year Ecopetrol expects to produce around 715,000 bpd. The predicted investment of $3.5 billion to $4 billion would be 35 percent to 55 percent higher than this year’s amount. Only 4 percent of the investment will be spent abroad in Mexico, the United States, Brazil and Peru, the statement said, with the rest destined for Colombian projects. The company is not taking out external financing for the 2018 plan. Ecopetrol expects […]