Tycoon Carlos Slim is investing $23 million in a new oil project in Latin America on hopes he can significantly make this venture grow as he has done with many other businesses in the past. Last week, Slim's conglomerate Grupo Carso (GCARSOA1.MX) announced it was buying 70 percent of Tabasco Oil Co, which has a permit to explore areas of the Llanos Orientes basin in Colombia. "Colombia is a country were we have presence through other related companies," Jorge Serrano, head of Carso's investor relations, told an analysts conference call on Tuesday. "It is a platform to explore additional businesses and potentially grow significantly that business." Colombia has experienced a boom in oil and mining investment since a 2002 U.S.-backed crackdown against leftist rebels.
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