National business magazine Portafolio reported that Enrique Velasquez, Ecopetrol Exploration VP, said that, while in 2010 the company’s oil, condensate and natural gas reserves were 1714 Mboe, in 2011 they totaled 1857 Mboe, an 8.3% increase. In 2011, the reserve replacement ratio was 164%. However, it is important to note that 2011 reserves report did not include the two previous years’ findings. Velasquez said that these reserves will be enough for 8.4 years.
The National Hydrocarbons Agency (ANH) was active this week with announcements of the final results of the supplemental auction round, phase 2 of the 2012 Round of auctions, an accounting of its actions for the year and a number of press interviews highlighting plans for next year.
The forum “Sustainable communities and oil”, organized by the ANH and national weekly news magazine Semana, will be held in Bogota on December 7. (As reported by the business magazine Dinero)
National business newspaper Portafolio reports that in 2013, the National Hydrocarbons Agency (ANH) will invest US$153.4M in subsurface studies in many areas of the country. The ANH will do this investment with the purpose of provide subsurface information to prospective investors, since in 2012 Round some companies chose not to invest in certain areas due to lack of geological knowledge.
MinMinas Federico Renjifo participates in The Colombia Business Summit conference organized by The Economist in Paris. From a MinMinas press release. Translated and with commentary by Hydrocarbons Colombia.
Many Colombian news sources picked up a BBC story about Qatar investing its oil wealth in building a knowledge-economy. That so many picked up it meant a number of news editors thought it suggested a different approach to using royalties. That got us thinking as well.
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