The Colombian oil sector faced tough times due to low oil prices and social conflict, but the industry managed to overcome this challenges and it is recovering lost ground. The Ministry of Mines and Energy (MinMinas) and the National Hydrocarbons Agency (ANH) reported Colombia oil reserves in 2017, with positive results.
The ‘Alianza Colombia Libre de Fracking’ Environmental Movement sent a letter to President Juan Manuel Santos, asking him to reject fracking because according to several scientific studies, there is enough information to determine that this practice is harmful for Colombians health.
Representatives of the sector discussed the opportunities in natural gas, unconventional resources, offshore projects and Enhanced Oil Recovery (EOR) at a forum organized by the business paper La Republica.
Geopark Limited (NYSE: GPRK) announced the testing results of the Tigana Norte 9 appraisal well located in the Tigana oil field in the Llanos 34 block. The company also announced the date to report its 2018 first quarter financial results.
The offshore industry development has generated high expectations, especially in the Caribbean region. Eduardo Verano, Governor of Atlántico, and Orlando Velandia, President of the National Hydrocarbons Agency (ANH), met to discuss this process.
The Colombian Fracking-Free Alliance (ACLF) spoke on recent measures by the National Environmental Licensing Agency (ANLA) on unconventional techniques.
With more stable oil prices, some Latin American countries decided to auction blocks and boost industry activities in their territories. Colombia announced its strategy to compete against heavyweights like Mexico, Brazil and Argentina.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for February 2018. This metric increased compared to January figures, breaking a negative trend that started in December last year.
Colombia continues to discuss the possibility of implementing unconventional techniques to guarantee energy self-sufficiency in the long term. Vice Minister of Energy, Rutty Paola Ortiz, spoke about advances in this regulation.
The Ministry of Environment (MinAmbiente) announced that it is finalizing the rules for the development of this technique in Colombia.
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