Colombia's May Oil Output Hits 3-year High

Colombia's state oil company Ecopetrol has reported the country's oil production averaged 538,709 barrels a day (b/d) in May, its highest in almost three years.

Ecopetrol produced some 156,962b/d directly. The rest came through associations with the private sector.

Total May production is up from April's output of 536,309b/d and May 2005 output of 530,701b/d, the company reported.

Colombia has seen production decline over the years, in part due to insufficient E&P projects. In January 1999, output reached a historical maximum of 846,484b/d but had declined to 546,105b/d in August 2003.

The company has awarded several fields to private companies this year in an effort to boost output.

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