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
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
