Carlos Slim finds oil in Colombia

They are now analyzing the economic possibilities

MEXICO. - The Mexican Tabasco Oil Company (TOC), a subsidiary of Grupo Carso of Mexican tycoon Carlos Slim, announced today that it completed the drilling of well for oil.

"As part of the exploration program ‘Jagueyes 3432-B’, the drilling of the first exploratory well has been concluded. This being a discovery well, we will now start the production tests to confirm their economic viability," said Grupo Carso in a press release that was sent to the Mexican Stock Exchange.

The Grupo Carso through Carso Energy controls 70% of TOC, a company dedicated to the exploration and exploitation of hydrocarbons, while the remaining 30% is owned by Geoprocesados, also a Mexican company.

The consortium of Carlos Slim pointed out that TOC holds two contracts for exploration and production of hydrocarbons in the basin, "the Eastern Plains, located in the northeastern part of Colombia called Jagueyes Llanos-56 and 3432-B".

Tabasco Oil Company is a company engaged in the exploration, production, operation and marketing of hydrocarbons in Latin America.

Geoprocesados is a Mexican company with more than 12 years working for the state-owned Pemex Exploration and Production, and is responsible for processing seismic images. It is also responsible for performing quality control for all seismic acquisition onshore and offshore companies working for Pemex.

Slim is also involved in services for Pemex through a company called Sweecomex, which builds oil rigs for the Mexican oil industry.


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