Ecopetrol (NYSE: EC) continues to develop its exploration campaign in Colombia, bringing good news to the country. The NOC announced a new discovery in the department of Arauca.
Ecopetrol (NYSE: EC) recently launched an international alliance campaign, allowing it to share markets and international scenarios with industry leaders. The NOC will continue its strategy during this year especially Mexico and Brazil.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for December 2018. The good trend continues, as the industry reported more rigs working in this period compared to December 2017 and previous month.
It is early January and time for my annual look ahead. The working title for this piece is always “Fearless Forecasts” but this year I am rather fearful.
Colombia has done little exploratory activity in recent years due to the oil crisis, insecurity and social conflict. However, the country must improve on this issue as soon as possible to resolve concerns about self-sufficiency.
In its December 13, 2018 Board meeting, the ANH made several important decisions, designed to improve block assignment and restart exploration.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for November 2018. The good trend continues, as the industry reported more rigs working in this period compared to November 2017 and previous month.
The low levels of oil and gas reserves have generated concerns in Colombia and the lack of exploratory activity has increased these worries. María Fernanda Suarez, Minister of Mines and Energy (MinMinas) spoke about the government’s plans for the industry and its future.
According to the National Hydrocarbons Agency (ANH), Colombia is finally ready to start pilot projects for the development of unconventional resources.
The oil sector continues to insist on the development of unconventional projects in Colombia to increase oil and gas production and reserves in the medium and long term. Francisco José Lloreda, President of the Colombian Petroleum Association (ACP) spoke on this subject and other relevant issues for the industry.
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