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
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