News and AnalysIs for

National business magazine Dinero reported that despite the country achieved an average production of 1,011,992 bpd; the priority now is to find oil reserves. Reserves in Colombia are of 2.259M barrels, which virtually allow a production for four or five years; however, according Amylkar Acosta, member of the board of Ecopetrol: “On average, in the world, the relationship between production and reserves is for a horizon of 10 years. But in Colombia, in 2012, that equation has declined for the fourth consecutive year, as production increases faster than the amount of reserves.