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
2 May 2025
Fast-tracking US project approvals and increased trade pressures have already changed the LNG landscape since Trump came to office, with further transformation ahead
2 May 2025
Peru’s state-owned hydrocarbons agency has launched the search for new investors for Offshore Block Z-69, a high-potential asset in the prolific Talara Basin.
2 May 2025
The scars of the Russia crisis have accelerated Europe’s push to wean itself off gas dependence as the growing globalisation of LNG becomes a double-edged sword
1 May 2025
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations