Improved Policy Measures Driving Oil And Gas Industry Growth in Colombia

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					      Improved Policy Measures Driving Oil
      And Gas Industry Growth in Colombia
                                                                                Reference Code: GDGE0620VPT

                                                                                Publication Date: FEB 2010




Energy Viewpoint                                                              GDGE0620VPT / Published FEB 2010
© GlobalData. This brief is a licensed product and is not to be photocopied

Source: www.energyetrack.com                                                                                 Page 1
Table of Contents



1           Table of Contents

1      Table of Contents                                                                                          2

1.1       List of Tables                                                                                          4

1.2       List of Figures                                                                                         4


2      GlobalData Viewpoint                                                                                       5

2.1       Summary                                                                                                 5


3      Improved Policy Measures Driving Oil & Gas Industry Growth in Colombia                                     5

3.1       Resurging Colombian Oil and Gas Industry: Improved Policy Measures Yielding Results                     6

3.2    Increasing Exploration Activities and New Licensing Rounds Will Enhance Oil & Gas Production 8
  3.2.1    Open Round Colombia 2010                                                                 9

3.3   Increasing Investments Will Pave Way For Colombia To Emerge As A Major Oil & Gas Player
Globally                                                                                                         12


4      Recent Developments                                                                                       13

4.1    License Rounds                                                                                            13
  4.1.1    Jan 28, 2010: ANH Open Round Colombia 2010 Arrives In Calgary                                         13
  4.1.2    Dec 02, 2009: Colombia Begins Process Of Awarding Oil Exploration Rights                              13

4.2    Recent Discoveries                                                                                   14
  4.2.1   Jan 29, 2010: Ecopetrol Discovers Hydrocarbons At Tempranillo North-1 Well In Pijao-Potrerillo Area,
  Colombia                                                                                                  14
    4.2.2   Jan 25, 2010: Pacific Rubiales Energy Announces Oil Discovery At Quifa-14 Well In Quifa Block,
    Colombia                                                                                               14
    4.2.3   Dec 17, 2009: Ecopetrol Confirms Hydrocarbons Presence At Rancho Hermoso-5 Well, Colombia 14
    4.2.4        Dec 07, 2009: Alange Energy Announces New Discovery At Careto-5 Well In Llanos Basin, Colombia
                 15

4.3    Drilling and Production Updates                                                                           16
  4.3.1     Feb 01, 2010: Petroli
				
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Description: Improved Policy Measures Driving Oil And Gas Industry Growth in Colombia Summary 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 - Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry. - Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today - Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry - Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events
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