Ecopetrol published the results of its 1% environmental compensation fund required by law, destined for the influence area of the Cupiagua oil field and other zones of the Casanare department.
The Farc and ELN are actively promoting blockades using the general population to disrupt production in a key economic sector, Colombia’s Vice Minister of defense Jorge Bedoya was quoted as saying.
The oil sector accounted for nearly a third of all foreign direct investment (FDI) in Colombia in 2012, summing US$ 5.377bn of the US$ 15.823bn invested in the country during 2012, making it the 3rd largest destination of foreign funds in the region, according to an annual report on FDI published by the UN’s economic commission on Latin America (ECLAC).
Colombia’s mining vice minister Natalia Gutiérrez said that the government has decided to implement the Extractive Industries Transparency Initiative (EITI), joining Peru as the second nation in South America to do so.
The implementation of new technologies for exploration, the consolidation of off shore drilling projects and shale oil and gas projects sit squarely as priorities for the future of Colombia’s hydrocarbon industry, according to German Arce, president of the National Hydrocarbons Agency (AHN).
Infrastructure investments in projects such as highways or added port facilities are required in order for Colombia to continue growing from mining and hydrocarbon production, according to Colombia’s Petroleum Association (ACP).
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