Colombia to drill over 90 oil wells

The decision is part of the plan to keep searching for oil reserves and endeavor to achieve long-term fuel self-sufficiency, which prevents the country from importing crude oil, according to a report published in this capital.The oil extraction industry produces 555,000 daily barrels, compared to 517,000 oil barrels obtained in 2007.Energy and Mining Minister Hernan Martinez recently said the country has secure oil reserves until the year 2015.Colombia consumes 350,000 oil barrels a day, according to recent statistics.The plan to drill 90 new oil wells is aimed at replacing the reserves, which fell short in 2007.The country consumed 170 million oil barrels in that period and just added 70 million as reserve, the minister said.Martinez asserted that Colombia is a rich country in energy resources, as coal, 70 million tons of which were exported the past year, expecting to reach 100 millions in 2010.Colombia, with three millions vehicles, an important percentage of which work with gas, has planned to extend oil prospecting in the Caribbean region and build two new processing plants.The minister said his country produces one million ethanol liters daily, out of sugar cane, which is mixed with 70 percent of the gasoline consumption, while there are also plans to produce biofuels and biodiesel.