Back toour markets

Colombia Overview

Colombia

in figures

Oil reserves2 billion barrels

Oil production781,000 bopd

Gas reserves100 bcm

Gas production13.3 bcm

Colombia: Oil and Gas Industry Reactivation

Colombia produced 851,000 bopd in 2018 while resurgent exploration and production activity saw new discoveries .

In 2003, Colombia reached a low point in its energy history when it started to import crude oil. In response the government took several measures. The National Hydrocarbons Agency was created, taking over the regulation and administration of local hydrocarbons resources from national oil company Ecopetrol. The agency’s actions, such as the international bidding round of 2012, attracted new oil and gas companies to the Latin American country.

The strong resurgence of production raised concerns about the lifetime of existing reserves and the oil exploration has been made the top priority. Exploratory drilling continued throughout 2018, leading to several recent discoveries by companies including by ONGC Videsh, Amerisur, Ecopetrol and Frontera Resources.

Much of Colombia’s hydrocarbons resource wealth is hidden deep offshore or in inaccessible parts of the hinterland. Because the country lacks developed oil and gas infrastructure, investment in hydrocarbons transportation is needed. Colombian pipelines are congested, and the Ministry of Mines and Energy is developing incentives for the construction of new oil pipelines. Additionally, several midstream projects are also under way.

Colombia has a refining capacity of 421,000 bpd, shared between five refineries owned by Ecopetrol. The country’s two largest refineries are the Cartagena Refinery, whose capacity was increased from 80,000 bpd to 165,000 bpd in November 2015, and the 250,000-bpd Barrancabermeja Refinery. In 2017, the country’s refinery throughput reached only 354,000 bpd, which was still a 4.5% increase over 2016. Meanwhile, oil consumption stood at 344,000 bpd, up 1.5% over 2016. Colombia is a net exporter of crude, but must import certain refined fuels, including diesel.

Interview
Mexico - May 20, 2022

Maria José Treviño, Acclaim Energy’s country manager for Mexico, talks to The Energy Year about how companies can face…

READ MORE
Mexico's energy transition: fuelled by natural gas_José-García-SANLEANDRO
Interview
Mexico - March 22, 2022

José García Sanleandro, president of the Mexican Natural Gas Association (AMGN), talks to The Energy Year about how Mexico’s…

READ MORE
DNV critical support in Mexico’s key projects Eckhard HINRICHSEN
Interview
Mexico - February 16, 2022

Eckhard Hinrichsen, country manager of DNV Energy Systems in Mexico, talks to The Energy Year about the key projects…

READ MORE
ExxonMobil presents fracking pilot scheme in Colombia
NEWS
Colombia - March 18, 2021

Colombia’s National Hydrocarbons Agency (ANH) received on Wednesday ExxonMobil’s proposal for a pilot unconventional project…

READ MORE
Interview
Colombia - May 02, 2019

Colombian President Iván Duque talks to TOGY about the priorities of the new administration regarding the country’s hydrocarbons, how the government is providing…

READ MORE
Colombia Vice-minister Diego Mesa
Interview
Colombia - April 11, 2019

Diego Mesa, Colombia’s vice-minister of energy, talks to TOGY about the ministry’s priorities in 2019, the work being done to resolve the question of unconventional…

READ MORE
Interview
Abu Dhabi - March 28, 2019

Jorge Neher, a partner at Dentons Cardenas & Cardenas, talks to TOGY about the need for further flexibility from National Hydrocarbons Agency (ANH), why the government…

READ MORE

 

WHOSE PLATFORM IS THIS?
ASK US

  • Do you have a question for The Energy Year about oil and gas?
  • If we know, we’ll tell you.
  • If not, we’ll ask the experts in the field.