Vetra Seeks Andean Partners

Colombia’s Vetra Energy Group is in search of joint venture partners to help bring 5 oil fields in Colombia, Ecuador and Peru into production, director Gustavo Dalence tells LatinFinance. The fields, he says, have estimated reserves of about 100m barrels of oil. Vetra is in the process of selecting an investment bank to assist in the search and has already received proposals from 3 institutions, Dalence says. He declines to disclose names. Vetra, which was established in 2003 by former PDVSA executives, also has sights set on acquiring blocks in Africa and the Middle East, Dalence adds.