There is optimism about the sector’s performance this year. Oil companies announced good financial and operational resultsduring 1Q17, and Colombian authorities hope to see better results in coming quarters.
Fifteen municipalities located in Bolivar and in 10 municipalities of Córdoba, were identified as potential oil producing areas.
The Colombian Association of Oil Engineers (Acipet) organized a breakfast to give the press “objective, technical and clear information about Hydraulic Stimulation in producingrockreservoirs in Colombia”. HCC was present at the event; we bring a brief summary of the meeting.
Juan Manuel Santos, President of Colombia and German Arce Zapata, MinMinas, visited the Siluro-1 well drilled by Repsol (MSE: REP). They highlighted their commitment to the offshore industry in Colombia.
The sector has announced several gas discoveries in the Caribbean Sea in recent months. Colombia wants to seize the offshore opportunities but it also wants to be ready for the challenges that this represents.
Ecopetrol (NYSE:EC) announced “the largest gas discovery found in the last 28 years in Colombian territory,” but the announcement just might be larger than the importance of the discovery itself.
The history of the mining and oil industry in Colombia took a turn after the popular consultation that took place in Cajamarca last month. Industry expert Francisco Miranda analyzed the situation.
The sector is looking for options to increase oil production in the country and unconventional techniques are attractive for many companies. However, the government position about this issue is not clear.
The country has been waiting for offshore exploration results with optimism. Ecopetrol (NYSE: EC) announced the first big finding of the offshore exploration campaign.
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