In the transition from a state operated monopoly to a mixed scenario with private players Mexico must find ways to be competitive globally and encourage sustained private investment in exploration says Germán Arce, president of Colombia’s National Hydrocarbons Agency (ANH).
Last week Petrominerales published its 2Q13 and while there was some good news from Brazil and new heavy oil finds, the overall production picture continued its decline. The company produces only about half the crude it did at the beginning of 2011.
The National Hydrocarbons Agency (ANH) is preparing a campaign to push through regulations that would allow exploration for unconventional reserves in areas that have already received approval for conventional extraction.
Pacific Rubiales has come across the remains of an indigenous group that date back 700 years in what now is an exploratory block.
The Tabasco Oil company, which is majority owned by the investment group of Mexican billionaire Carlos Slim, Grupo Carso, says it has discovered oil in an exploration block in northeastern Colombia. However, difficult community relations may limit their ability to fully exploit the opportunity.
Officials charged with managing Colombia’s sea commerce and resources met with oil companies performing offshore exploration to discuss regulations surrounding the activities.
Drill rig counts have become controversial with Baker Hughes showing recent declines — suggesting something was not right — and the Ministry of Mines and Energy taking offense at the implied criticism. Campetrol’s counts are based on its members’ reports and, to the extent that they represent the universe of drilling companies, should be more representative.
Canacol Energy says it has started drilling an exploration well as part of its Oso Pardo I expedition project carried out jointly with ConocoPhillips.
Presidents of the community action boards of Tauramena and Villanueva, two villages that fall within the influence area of the “Llanos 32-34 and 3D Max” seismic exploration program, attended a meeting with the companies to define agreements surrounding social investment, wage, transport and monitoring.
The country’s reserve report for 2012 has been much anticipated because prior signals were not very positive. Government officials publicly worried about reserve-production ratios as did the Colombian Petroleum Association (ACP). The three of the largest companies (Ecopetrol, Pacific Rubiales, Petrominerales) did not have good years for oil exploration in Colombia. We think ‘Small Oil’ made up the difference. Overall, this is good news but our commentary points out that there is still much to do. From a MinMinas press release, translated and with commentary by Hydrocarbons Colombia
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