The oil sector continues to announce agreements to encourage the exploration and production of oil and gas in the country, with the Colombian authorities’ support. The National Hydrocarbons Agency (ANH) announced a new agreement between Parex (TSX: PXT) and Ecopetrol (NYSE: EC).
While the country debates about the future of fracking, engineer Germán Espinosa, President of the Chamber of Petroleum Goods and Services (Campetrol), spoke about the potential of conventional fields.
Ecopetrol (NYSE:EC) and Canacol Energy (TSX: CNE), among other firms, announced positive results from social investment projects in their areas of influence. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Cartagena refinery (Reficar) announced its 2018 financial and operational results. The plant continues to consolidate its operations in the country, reporting excellent metrics.
The government has gone back and forth when it comes to the development of fracking in Colombia. However, according to the National Hydrocarbons Agency (ANH), there is no more time to waste when it comes to the country’s reserves.
The development of pilot fracking projects has generated much discussions in the country. Ecopetrol (NYSE: EC) is continuing to prepare for these projects and announced a new organization specialized in these issues.
Edwin Palma, president of the union, explained why according to him, selling the NOC is not a good idea.
One of the biggest changes by this new government has been finally launching the new Permanent Bidding Process. Originally announced in September 2015, it would be an understatement to say this has had a long gestation period. But it has finally arrived. We asked Marianna Boza and the team at Brigard Urrutia to give our readers an overview.
The implementation of unconventional techniques such as fracking has been one of the main discussion topics in the oil sector this year. Orlando Cabrales Segovia, President of the Colombian Natural Gas Association (Naturgas), spoke about this issue and about the proposal to carry out pilot projects in the country.
Ecopetrol’s (NYSE:EC) Felipe Bayón said that the NOC is currently studying the viability of developing more offshore exploratory fields.
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