Day 1 of AAPG ICE: ANH Head Armando Zamora

(Energy Analytics Institute, 19.Apr.2022) — Highlights from ANH Colombia head Armando Zamora during his presentation in Cartagena, Colombia on day 1 of the AAPG International Conference & Exhibition (ICE) taking place between 19-22 April 2022.

Comments from ANH Colombia head Armando Zamora:

— Colombia’s 2040 plan (base case scenario) envisions the country replacing 150% of current oil reserves which would translate into 3 bn bbls of reserves to be added. In order to reach the target the ANH estimates it needs to award 200 areas and drill at least 800 wells: Zamora

— The ANH has held 11 bidding rounds since 2007 and approximately 600 E&P contracts have been signed since the creation of the ANH; while reserves have yet to return to the 2.4 bn bbls level seen in 2013: Zamora

— Petrobras to start drilling an exploration well in the next few weeks in the Guajira Basin: Zamora

— “We are being part of the solution rather than part of the problem… this industry is leader in the energy transition. This industry is not the devil in the religion of climate change. This industry is part of the solution and has capabilities, resources and the will to become a leading force in the energy transition and as an agency we want that to happen”: Zamora

— “In Colombia, on average every barrel of Colombian oil produces 75kg of CO2 (Scope 2), according to data from the University of Stanford and sponsored by Saudi Aramco: Zamora

— “On Scope 3 every barrel of oil produces 0.5 ton of CO2… but we think it is the responsibility of the consuming countries to to control the emissions of their own consumption”: Zamora

— “[Colombia] consumes a third of what we produce:” Zamora

— “As a producing country we are doing our part to be part of the solution and not part of the problem,” adding that all of Colombia’s [future] barrels will be cleaner: Zamora