Last year had important moves among oil investors who bought and sold shares in blocks that were already awarded by the National Hydrocarbons Agency (ANH).
CEO Felipe Bayón spoke about the NOC’s plans in Latin America, looking not only for assets on sale, but to participate in auctions.
GeoPark’s (NYSE: GPRK) Marcela Vaca said that the firm’s partnership with India’s ONGC Videsh, will allow it to strengthen its E&P activities in Chile, Brazil, Peru, Argentina and Colombia.
Ecopetrol (NYSE: EC) and Occidental Petroleum (NYSE: OXY) announced three oil discoveries in these departments to the National Hydrocarbons Agency (ANH).
The Center for Economic Studies of the National Association of Financial Institutions (ANIF) conducted a study on fracking vs. conventional techniques, under the direction of Sergio Clavijo and Ekaterina Cuéllar.
The Colombian oil sector continues to look for alternatives to guarantee energy self-sufficiency in the long term. Hydraulic fracturing (fracking) is positioned as the main option, but it is not free from controversy. Ecpetrol’s (NYSE:EC) CEO, Felipe Bayón, spoke on this topic.
Oil prices have stabilized allowing the reactivation of investments, but these are low compared to prior years’ levels. However, the government has a plan to encourage more exploration investments, taking advantage of a better price environment.
A study by the Colombian Petroleum Association (ACP) said that most of the investments planned for next year will go to the development of onshore projects.
Ecopetrol (NYSE: EC) announced a new oil discovery in the Middle Magdalena Valley Basin (VMM) in the department of Santander.
German Arce, Minister of Mines and Energy (MinMinas), spoke about the possibility of implementing unconventional techniques and the consequences if these are not approved.
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