(Energy Analytics Institute, Jared Yamin, 1.Jun.2016) – Colombia needs to invest an estimated $7 billion per year over a ten-year period or under to remain self-sufficient in the production of petroleum.
The outlook for Colombia’s petroleum sector in terms of self-sufficient is ‘reserved,’ reported the daily newspaper El Tiempo, citing Colombia’s Petroleum Association (ACP by its Spanish acronym) President Francisco José Lloreda.
Expected investments of $3.82 billion on exploration and production activities may not materialize, announced the official, adding that no seismic has been shot in 2016.
“If the tendency does not change, by the year 2022 production could fall below an average of 400,000 barrels per day,” said Lloreda. “This would be when that it would be necessary to import crude for the Cartagena and Barrancabermeja refineries.”
We require a competitive fiscal regime, said Lloreda, referring to what is needed to attract investments.
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