Phillips increases interest in Hamaca project to 40 percent
Petroleum News Alaska Staff
Phillips Petroleum Co. has agreed to exchange its 18 percent working interest in the LL-652 oil field in Lake Maracaibo, Venezuela, for two-thirds of Atlantic Richfield Co.’s 30 percent working interest in the Hamaca heavy oil project in Venezuela’s Orinoco oil belt.
The exchange boosts Phillips’ s....
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