The development of unconventional deposits is one of the main strategies to increase reserves and production of oil and gas in Colombia. Ecopetrol (NYSE: EC) initiated a legal process to develop these projects in the country.
Julio Cesar Vera, president of the Colombian Association of Petroleum Engineers (Acipet), wrote an Op-Ed to highlight important aspects of the industry in the country.
CEO Felipe Bayón spoke about the NOC’s plans in the Middle Magdalena (Santander); an area with great potential.
Several years ago, the people of Tauramena (Casanare) voted to prohibit oil activities in their region through a popular referendum. Ecopetrol (NYSE: EC) began a ‘judicial battle’ to reverse this decision and Colombian authorities have just made a decision on the case.
According to the Union, Ecopetrol (NYSE: EC) worries about assuring the rights of its contractor companies, while turning its back to its own workers.
The investigation into the scandal of the Cartagena refinery (Reficar) continues to advance. The Attorney General’s office and Nicolas Isaksson Palacios, former legal head of Reficar reached an ‘agreement’.
Oil theft has become a headache for Ecopetrol’s (NYSE:EC) finances, but the Police was able to capture one of the bands that operated in Buenaventura (Valle del Cauca). The development of these and other stories in our periodic Security summary.
Better prices seem to bring a more promising panorama, but if the NOC wants to leverage this opportunity, it will have to resolve issues associated to fuel theft first.
CEO Felipe Bayón acknowledged the importance of better oil prices for the development of the NOC’s projects.
Colombia continues talking about the possibility of developing unconventional projects via the hydraulic fracturing technique (fracking). The Colombian petroleum workers (USO) spoke about this alternative and its potential in some municipalities of the country.
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