The Colombian oil sector faced tough years recently as a result of low prices, but it seems things are slowly improving. Several representatives of the industry talked about the industry.
Representatives of the sector discussed Ecopetrol’s (NYSE: EC) fracking pilot proposal at Expo Oil & Gas 2017.
A reader asked the not-so-innocent question “If rigs are up so dramatically, why is not production?” That seemed like an interesting graph.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for October. This metric maintains its positive trend, despite operating challenges in the country.
National Hydrocarbons Agency (ANH) Technical Vice President, Jairo Osorio, said that fracking has not been authorized or developed in Colombia and added that an initial exploration phase to determine whether there are unconventional reserves in the country has just begun.
The Colombian oil sector has faced some tough years, leading to few exploration projects and a reduction in production and reserves. However, the industry is showing a recovery in key metrics and this behavior is increasing expectations and perspectives.
Industry leaders and academics talked about fracking and seismic at the second “Colombia and the World of Fracking” workshop organized by the Society of Petroleum Engineers (SPE) in Bogotá.
During the coming weeks, the Government hopes to confirm the existence of new oil areasthat will put Colombia in a new stage in the offshore industry.
The president of the Colombian Association of Petroleum Engineers (Acipet), Julio Cesar Vera, spoke about the situation of the industry, not only in Colombia but in the world.
The Colombian oil sector was able to overcome the oil crisis, but there is still uncertainty about low oil reserves. Germán Espinosa, President of the Colombian Chamber of Goods and Services (Campetrol) spoke about this topic.
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