Exxon Mobil Corp and Colombia’s state-run oil company Ecopetrol SA have each signed joint contracts with Spain’s Repsol SA to explore for oil in offshore blocks in the Caribbean, the Colombian government said on Wednesday. The Andean country recently modified contractual terms for offshore exploration and launched a permanent bidding process in an effort to boost its long-stagnant oil sector. Companies including Shell, Noble and Parex have since signed on to operate new blocks. The two contracts will generate some $700 million in investment, the national hydrocarbons agency (ANH) said in a statement. Exxon, the world’s largest publicly traded oil producer, and Repsol will split participation in the COL-4 block, located about 100 kilometers (62 […]