Ecopetrol will spend close to US$700 million to increase production, processing and transport infrastructure at Castilla, the company said in a statement.
Castillo is in the Llanos Orientales basin and is Colombia's principal heavy crude producer.
The project falls under the state company's plans to develop the heavy crude business as part of its strategic plan for the next five years. The plan seeks to reach production of 500,000 boe/d in 2011. Ecopetrol currently produces roughly 300,000 boe/d.
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