Colombian production rebounds post-pandemic
Undeveloped basins, minimal industry competition and gas supply imbalance are notable tailwinds even as windfall taxes loom large
Colombia-focused E&Ps are guiding healthy production growth heading into 2023, despite recurrent blockades by local and indigenous groups and an oil-price-pegged windfall tax that may discourage investment in replenishing the county’s already waning gas reserves. Colombian state oil and gas firm Ecopetrol posted 3.2pc production growth in the first three quarters of this year. National production “continues to grow, reaching 720,400bl/d oe by Q3 2022, the highest on record since Q2 2020 and places us at the high end of the target range set for 2022,” says Alberto Consuegra, COO at Ecopetrol. The firm also expects to drill a total of 24 exploratory wells by the close of 2022. In Q3, a dis
Also in this section
24 October 2024
Producers in the region see significant gains to be made by boosting output using the infrastructure already in place
23 October 2024
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026