Colombia and US revising bilateral cooperation
Colombia’s cocaine market collapsed: farmers
Armed conflict in Colombia displaced more than 180,000...
Forced displacement
Petro orders Colombia’s security forces to end ceasefire...
Central Colombia mining disaster kills 21, rescue attempts...
At least 11 dead, 10 missing after central...
Can Colombia afford excluding paramilitaries from peace process?
‘Ivan Mordisco’
Colombia’s ‘total war’ on illegal mining shuts down...
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Colombia oil production continues upward swing

by Christina Filipovic September 22, 2010
1.4k

Colombia news - Oil

Oil production and exploration continues to expand in Colombia, with companies planning to open 110 new exploratory wells this year.

According to Portafolio, several companies are requesting permits to explore new territory such as Llanos Orientales (Eastern Plains), the Magdalena Valley, and areas near the Caribbean coast.

For the past two months, these companies have been going through proceedings with the Environment Ministry to secure the permits necessary to expand exploration in new parts of the country.

Ecopetrol, Cepcolsa, Emerald, Ramshorn, Petrolifera, Pacific Stratus, Thorneloe, Columbus Energy, and Nexen are seeking permits. In 2009, the government’s oil-licensing agency, the ANH, reached 58 agreements. For 2010, the current figure is at seven agreements, but will most likely surpass 2009 contracts, when the agreements from the Open Round Colombia 2010 are finalized.

Colombian oil production is expected to continue to consistently rise. Analysts credit the increase in investment and production to the country’s decline in violence and to regulatory reforms.

Colombia has the fifth-largest crude oil reserves in South America, and currently exports around half of its production, with a significant portion of this going to the United States.

anheconomyexplorationforeign investmentoil

Contribute

Trending

  • Central Colombia mining disaster kills 21, rescue attempts ended

  • Petro orders Colombia’s security forces to end ceasefire with AGC

For patrons

Downloads for patrons

Related articles

  • Colombia’s GDP and GNI

  • Inflation

  • Foreign trade

  • Twitter
  • Email
  • Rss

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion