"Together with the Colombian government, the public and private sectors can create jobs in these regions and contribute to the consolidation of peace," said Yvonne Baumann, the Swiss ambassador to Colombia.
Arrow Exploration will bring in $5 million USD by selling a 46.9% interest in what it refers to as the the "deeper section" of the block and a 20% interest in the "shallow section."
"This joint venture forms an important part of Frontera's plans to build growth for the future,” said Gabriel de Alba, chairman of the board of directors of Frontera Energy.
The expansion has included new stores in Cartagena and Barranquilla on the Caribbean coast in addition to the October launch of a location in Bogotá's Andino mall.