Colombia Reaches 800 Thousand Barrels of Oil Production Per Day
Already in May, oil production in Colombia could reach 800 thousand bpd compared to last year’s level of 777 thousand.
Oil production in Colombia is approaching the 800 thousand bpd mark, although the Andean country is trying – not without obstacles – to switch to renewable energy sources.
Bogota could reach this oil production figure as early as May, while in that year production was 777 thousand bpd.
The growth was due to better management of existing contracts: in the last three months, the country managed to avert an additional shutdown of about 10 contracts. Due to delays in environmental licensing and the protracted conflict in Colombia, about 30 mining operations have been suspended.
Colombia now estimates that its existing oil and gas reserves will last for about 5-8 years.
At the same time, Bogota is paying attention to the development of solar, wind and geothermal energy. Colombia plans to hold its first-ever auction for an offshore wind farm majority owned by state-owned Ecopetrol.
