(Energy Analytics Institute, Piero Stewart, 11.Dec.2018) — Colombia’s Mines and Energy Minister María Fernanda Suárez highlighted growth in the number of rigs in operation in oil activities in Colombia.
Approximately 140 rigs were used in November 2018 on hydrocarbon exploration and production activities and well services, representing the high levelest reached in four years, according to an official statement posted on the website of Colombia’s Mines and Energy Ministry, and referencing data provided by the Chamber of Petroleum Goods and Services or Campetrol.
The 140 rigs in operation in November 2018 represented an increase of 16.7% compared to November 2017, and marks the highest level reached since November 2014, according to Campetrol’s data. Additionally, between January and November 2018, a monthly average of 128 rigs were used, up 71% compared to an average of 75 used in the same eleven month period in 2017.
“This is positive news for the sector, given that one of the main challenges is to achieve a significant increase in the country’s oil and gas reserves-to-production ratios, which today are 5.7 and 11.7 years, respectively,” said. Suárez. Thus, we should be able to ensure self-sufficiency and guarantee fuel supply, while always protecting communities and the environment, she said.
Colombia continues to work on all fronts related to efforts to reactivate smaller fields and increase recovery factors as well as efforts to develop offshore projects, concluded Suárez.
***
© Energy Analytics Institute (EAI)