Extradited guerrilla chief submits to Colombia’s war crimes...
Colombia’s war crimes tribunal to investigate gender war...
Poverty in Colombia drops while perception of poverty...
Poverty and inequality
Peace talks with Colombia’s EMC guerrillas to begin...
Human rights prosecutors attacked in northern Colombia
Colombia’s judicial branch thrown offline in major cyber...
7 years into peace process, Colombia has strategy...
Colombia’s estimated cocaine production reaches new record high
Colombia’s president wants end to sanctions on Venezuela
  • 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

Colombian oil attracts smaller companies

by Adriaan Alsema May 19, 2008
1.8K

Montecz, C & C Energy, Hupecol, Winchester, Petrominerales, Petrocolombia, Conequipos, and Union Temporal Omega are only some of the companies to extract oil from Colombian soil.The companies have been coming to Colombia to develop mining projects, not only because of the steady increase of the oil price, but also because of a more relaxed investment climate compared to for example Venezuela and the large number of undiscovered or unexploited oil wells, that are considered too small by large multinationals.The companies are concentrating on relatively shallow wells that in some cases are no deeper than 5,000 meters. Some wells are already being exploited and are contributing to a growing amount of barrels exported by Colombia.According to statistics from the oil industry, the discovery and exploitation of small wells increased production with 16,150 barrels per day. 11,850 of these were findings by large companies. 4,300 were produced by small and medium-sized firms.Compared to the 531,000 barrels of oil Colombia produces per day, the amount of barrels coming from small wells may seem insignificant, but director of the National Hydrocarbons Agency (ANH), Armando Zamora, insists that this new production can reach 30,000 barrels per day in the coming years when these areas are developed and drilled for more wells.

Contribute

Trending

  • Poverty in Colombia drops while perception of poverty rises

  • Colombia’s war crimes tribunal to investigate gender war crimes

  • Poverty and inequality

For patrons

Downloads for patrons

  • 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