Colombia Oil and Gas Report Q1 2015
Includes 3 FREE quarterly updates
NEW YORK, Dec. 24, 2014 /PRNewswire/ -- BMI View:
Colombia's energy sector is approaching an inflection point over the next several quarters. While the past decade has witnessed strong production growth due to improvements in the business and security environment, we caution that the country will experience downward pressure on oil production over the longer term. The tendency toward smaller finds, as well as recent increases in pipeline attacks have begun to show signs of decreased investor interest in Colombia's resources, as witnessed in the 2014 licensing rounds. Given ongoing below and above-ground challenges, we maintain a cautious stance toward the future of Colombia's hydrocarbon productivity.
The key trends and developments in the Colombian oil and gas sector are:
- Colombia's attractive fiscal regime, favourable contract terms, and amenable regulatory environment spurred significant foreign investment into its oil sector over the past decade, helping to propel production growth over 70% since the mid-2000s. In 2013, production exceeded the 1mn barrels per day (b/d) threshold, and by 2018, we forecast crude, NGL and other liquids production to reach 1.1mn b/d. While we expect the upward trend to continue, we note production growth will slow unless the country is able to address its declining reserves picture, as well as the recent escalation of attacks on pipeline infrastructure.
Read the full report: http://www.reportlinker.com/p0167216-summary/view-report.html
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