The country’s upstream has been hampered by challenging operating conditions over the past few years but finally has cause for optimism
Colombian upstream kicks through the gears
Prospects look bright for 2022 as bullish companies predict production growth and exploration activity
Colombian oil and gas operators have had a lot to deal with over the past two years, having first to contend with a global pandemic and then with months of social unrest and protests that wrecked upstream plans and only compounded the country’s production problems. But the sector’s fortunes may finally have changed, with several independents playing catchup on a backlog of upstream prospects. Barring further political and civil conflict, and bearing in mind the ongoing threat of Covid-19 variants, operators are guiding strong production growth and better financial performance for the year-ahead. Colombia-focused independent Geopark is forecasting 5-10pc production growth in 2021 net of dives
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
