2014-02-07 18:02:03 - Colombia Oil and Gas Report Q1 2014 - a new market research report on companiesandmarkets.com
There is optimism with regard to the future of Colombia´s energy sector; particularly as improved security dynamics and a more liberal business environment have led to increased investment in exploration and production. The most recent licensing round and increased interest in the country´s offshore potential will also contribute to greater foreign investment and exploration into the sector, leading to further growth in proven reserves and buoying the robust long-term production picture.
The main trends and developments for Colombia´s oil and gas sector are:
- An improving security situation and the country´s attractive fiscal regime are likely to continue to attract significant levels of foreign investment into Colombia´s oil sector. Production has grown by more than 70% since the mid-2000s and we expect
that upward trend to continue. Preliminary monthly data from the EIA shows that production has exceeded the 1mn barrels per day (b/d) threshold in 2013, and by 2017, we forecast crude, NGL and other liquids production to reach 1.2mn b/d, making it one of Latin America´s top oil producers.
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