Colombia Oil & Gas
29 April 2020Bogota
Colombia is the third largest oil producer in Latin America. The Organization of the Petroleum Exporting Countries (Opep) estimated an average of Colombian crude oil production during 2020 of 900,000 Kbpd to continue the growth of the industry in the country.
31 new contracts were awarded during 2019 with a total of $ 8.9 billion as a result. More than US $ 2,700 MM in investment projects and an average of 886,000 Kbpd, increasing production by 2.7% compared to the previous year are the results of the oil industry. On the other hand, 9.7% was the increase in Gas production in addition to a 136% growth in seismic with a total of 1,629.79 km.
In January 2020, 18.3 MM of barrels of crude oil were exported according to DANE and the National Hydrocarbons Agency (ANH) reported proven reserves of Petroleum (bls) corresponding to 1,958,269,052 and Gas (kpc) corresponding to 3,781. 843,303. This being the prelude to the challenges that arise during this 2020.
Nowadays, the world’s energy industry is experiencing dramatic changes; the competitive environment is becoming tougher. Against this background, questions about how to maintain and enhance the competitive advantages of companies operating in the oil and gas industry, and how to promote the development of global energy security are becoming more acute. The answers to these questions depend on the progress of ongoing projects, success of the operating companies, decisions and ability to operate in harsh conditions.
Explore the prospects of market development, projects on construction, innovations and strategies of Oil & Gas industry in Colombia during the webinar!