News and AnalysIs for

Ecopetrol (NYSE: EC) is advancing in the analysis and design phase of its plan to start gas production in the Orca 1 well (La Guajira) by 2024.

For 25 years, Colombia’s Central Oil Pipeline (Ocensa) has transported more than 3.5Bbl throughout the country.

Wednesday’s “Counter-offer Round” of the first wave of the ANH’s Permanent Competitive Process (PPAA) was virtually a non-event with only one counterbid filed. But that is excellent news for the rest of the companies that prevailed in the first round and received no counterbids. They can move to the contract-signing phase immediately.

The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for May 2019. Crude and natural gas production increased during the five month of this year compared to 2018.

The President of the National Hydrocarbons Agency (ANH), Luis Miguel Morelli, explained how small and medium companies can help reactivate the national industry.

Colombia continues to discuss the possibility of implementing unconventional techniques such as fracking and its effects. Erdal Ozkan, professor of petroleum engineering at the Colorado School of Mines, spoke about this controversial technique and gave some recommendations for its implementation.

The President highlighted the advances of the post-conflict process, while Farc leader, Rodrigo Londoño (‘Timochenko’), demanded effective measures to stop the killing of former Farc members.

Canacol (TSX: CNE) participated in the South America Energy Series 2019 (SAES19) in Bogotá. Omar Serrano, Director of Strategy, Guilds and Contracts of CNE, spoke about the growth and expectations of the company in the country. HCC attended the event and we bring a brief summary of the meeting.

Iván Duque, President of Colombia, promised to make important changes to help the oil sector. The General System of Royalties (SGR) is one of the most controversial issues with communities and authorities announced important moves to reform it.

The State Council is analyzing whether the regulations to develop fracking in Colombia are viable or not, which could start solving the future of unconventionals in the country.