ANH president Ernesto Forero says reviving Colombia’s oil and gas sector would take investment close to US$10 billion, that 70 current contracts can still be made more productive, and that the government wants the first quarter of 2027 to be the starting point for new projects.
Parex Resources has found more gas and light crude at its VIM-1 block in Magdalena department, where a well drilled near the producing La Belleza field tested at 6,600 boe/d, and the company plans a new pipeline for mid-2027 to bring the gas to market.
Colombia’s environmental licensing authority, ANLA, has removed three follow-up requirements for Komodo-1, an offshore oil and gas exploration project on block COL-1 in the Caribbean Sea, run by Occidental with Ecopetrol as partner.
Frank Pearl, executive president of oil and gas association ACP, is asking for stability guarantees of up to 30 years for large, long-horizon projects, and says some fracking contracts are ready to start without pilots.
Fracking could sustain oil and gas production in Colombia for about 100 years, according to Nelson Castañeda, president of the oil and gas chamber Campetrol, but only if the government provides legal and tax stability.
ONGC Videsh Limited (OVL), the overseas arm of India’s state-owned oil company, has reported positive results from the Milano-1X exploratory well on block CPO-5 in Meta department, with production potential of about 750 barrels of oil per day.
Colombia’s Holland House chamber of commerce and the Suriname Chamber of Commerce and Industry have signed a memorandum of understanding to promote trade and investment between the two countries ahead of a large offshore oil development in Suriname.
Campetrol, the oil, gas and energy chamber, has proposed measures to strengthen Colombia’s oil and gas sector, including more output from existing fields, onshore and Caribbean development, and expanded exploration.
Colombia’s hydrocarbons agency has begun a series of technical sessions meant to turn decades of subsurface data into new exploration opportunities.
Colombia had 114 active rigs in August, up 1.8% (two rigs) and level with July.
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