ELN kills at least 9 soldiers in northeast...
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’
  • 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
News

Ecopetrol aims at 1.3M barrels per day by 2020

by Cameron Sumpter July 14, 2010
1.1k

ecopetrol, logo

Colombia’s state-owned oil company Ecopetrol SA expects the nation’s oil output to reach 1.3 million barrels per day in 2020, by which time the company will have invested $80 billion, according to a statement released Wednesday.

Exploration and production will receive 79% of the sizable investment, while 21% will be used for refining, transportation, trading and biofuels, reports EFE.

The company is aiming to produce 1 million “clean” barrels per day by 2015, which the oil giant says will be “in harmony with environmental and interest groups.”

In March, an emerging markets fund manager predicted that within ten years Colombia could be producing more oil than neighboring Venezuela.

BP PLC in late March handed over the operation of the Cupiagua field in Colombia to Ecopetrol SA, after 28 years of joint administration with the Colombian state-owned company.

BP had operated the field and had a 31% stake in the venture, while Ecopetrol had 50% and French Total SA (TOT) held the remaining 19%. The handover had been planned.

Colombia, which is Latin America’s fourth largest producer of oil, wants to double its known oil reserves and build on the already booming industry in the Andean nation.

barrels per dayEcopetrolforeign investment

Contribute

Trending

  • Colombia’s cocaine market collapsed: farmers

  • Armed conflict in Colombia displaced more than 180,000 people in 2022: ICRC

  • Colombia and US revising bilateral cooperation

For patrons

Downloads for patrons

Related articles

  • Colombia’s oil company suspends fracking

  • Colombia’s state-run oil company clashes with incoming government

  • Colombia’s Ecopetrol joined by paramilitaries after guerrilla attacks on oil fields

  • 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