Ecopetrol (NYSE: ECP) announced an oil discovery in its CPO-09 block, in the municipality of Guamal (Meta). The NOC has a 55% stake in the project and its partner, Talisman Colombia Oil & Gas, (Repsol) has the remaining working interest.
The Drummond mining company could sell its assets in Colombia and the US. Unconventional resources could raise attractiveness of the business.
The president of the National Hydrocarbons Agency (ANH), Orlando Velandia, announced the companies that qualified in the Sinú San Jacinto (SSJ) process. This officially places Colombia within the current wave of Latin American auctions.
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.
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