Improved Policy Measures Driving Oil And Gas Industry Growth in Colombia

Colombia’s oil and gas industry is witnessing a significant boom with crude oil output in 2009 reaching 0.67 million barrels per day (b/d), the highest since 2000. The endeavors of the Colombia Government to open the upstream sector to foreign players and attract investments through favorable fiscal terms and increased level of security in the country have succeeded in reversing the country crude oil output trend. The continued measures of the domestic government to overhaul the country’s upstream sector have provided a platform for the country to become an important player in world oil and gas industry, with oil production expected to reach 1 million b/d in 2015.

Scope

- The study discusses the Colombian oil & gas industry, with primary focus on the recently improved policy measures.
- It discusses the Colombian oil & gas market, presenting statistics on its natural gas production, number of contracts signed, and number of wildcats drilled during 2000-2009.
- It also briefs about Open Round Colombia 2010 and the working program for the blocks offered.

Reasons to buy

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Contents

1 TABLE OF CONTENTS


1.1 LIST OF TABLES


1.2 LIST OF FIGURES


2 GLOBALDATA VIEWPOINT

2.1 Summary

3 IMPROVED POLICY MEASURES DRIVING OIL & GAS INDUSTRY GROWTH IN COLOMBIA

3.1 Resurging Colombian Oil and Gas Industry: Improved Policy Measures Yielding Results
3.2 Increasing Exploration Activities and New Licensing Rounds Will Enhance Oil & Gas Production
  3.2.1 Open Round Colombia 2010
3.3 Increasing Investments Will Pave Way For Colombia To Emerge As A Major Oil & Gas Player Globally

4 RECENT DEVELOPMENTS

4.1 License Rounds
  4.1.1 Jan 28, 2010: ANH Open Round Colombia 2010 Arrives In Calgary
  4.1.2 Dec 02, 2009: Colombia Begins Process Of Awarding Oil Exploration Rights
4.2 Recent Discoveries
  4.2.1 Jan 29, 2010: Ecopetrol Discovers Hydrocarbons At Tempranillo North-1 Well In Pijao-Potrerillo Area, Colombia
  4.2.2 Jan 25, 2010: Pacific Rubiales Energy Announces Oil Discovery At Quifa-14 Well In Quifa Block, Colombia
  4.2.3 Dec 17, 2009: Ecopetrol Confirms Hydrocarbons Presence At Rancho Hermoso-5 Well, Colombia
  4.2.4 Dec 07, 2009: Alange Energy Announces New Discovery At Careto-5 Well In Llanos Basin, Colombia
4.3 Drilling and Production Updates
  4.3.1 Feb 01, 2010: Petrolifera Petroleum To Spud Brillante SE 1X Well In Mid-February 2010
  4.3.2 Jan 25, 2010: Ecopetrol Updates On 2009 Proved Reserves
  4.3.3 Jan 18, 2010: Petrodorado Spuds ME-1 Well In Los Llanos Basin, Colombia
  4.3.4 Jan 11, 2010: Pacific Rubiales Energy Updates On Abanico Field And Quifa Block In Colombia
  4.3.5 Jan 06, 2010: Gran Tierra Energy Updates On Dantayaco-1 Exploration Well In Colombia
  4.3.6 Jan 04, 2010: Petrominerales Commences Production From Candelilla-1 Well In Colombia
  4.3.7 Nov 20, 2009: Colombia's Oil Production Reaches 704,000 Bpd In October 2009
4.4 Other Significant Developments
  4.4.1 Jan 25, 2010: Pacific Rubiales Energy Updates On Abanico, La Creciente And Rubiales Blocks
  4.4.2 Jan 19, 2010: Ecopetrol Receives $1 Billion Preliminary Commitment From US Eximbank
  4.4.3 Jan 13, 2010: Azabache Energy Begins 2D Seismic Program At La Mona Block In Colombia
  4.4.4 Jan 07, 2010: Pacific Rubiales Energy Enters Long Term Oil Transportation Contract With Oleoducto
  4.4.5 Dec 11, 2009: Ecopetrol Announces Investment Plan Of $6.92 Billion In 2010
  4.4.6 Dec 10, 2009: Colombia's Oil Production Rises In November 2009
  4.4.7 Nov 12, 2009: Ecopetrol Takes Over Operations Of Colombia's Cupiagua Fields Beginning July 2010
4.5 New Contracts Announcements
  4.5.1 Feb 02, 2010: NXT Energy Receives $431,000 Survey Contract In Colombia
  4.5.2 Jan 13, 2010: CGGVeritas Signs Contract With GSS Geofisica Sistemas

5 APPENDIX

5.1 Methodology
  5.1.1 Coverage
  5.1.2 Secondary Research
  5.1.3 Primary Research
  5.1.4 Expert Panel Validation
5.2 Contact Us
5.3 About GlobalData
5.4 Disclaimer

1.1 LIST OF TABLES

Table 1: Open Round Colombia 2010, Working Programme For The Blocks Offered

1.2 LIST OF FIGURES

Figure 1: Colombia, Crude Oil and Natural Gas Production, 2000-2009
Figure 2: South and Central America, Country Standings, Upstream Fiscal Attractiveness, 2009
Figure 3: Colombia, Number Of Contracts Signed, 2005-2009
Figure 4: Colombia, Number Of Wildcats Drilled, 2000-2009
Figure 5: Colombia, Blocks Offered, Open Round Colombia 2010
Figure 6: GlobalData Methodology
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