South America / GoM

Colombia flag
Summary | Profile

Country profile: Colombia

Location: Northern South America, bordering the Caribbean Sea, between Panama and Venezuela, and bordering the North Pacific Ocean, between Ecuador and Panama. Includes Isla de Malpelo, Roncador Cay, and Serrana Bank
Climate: tropical along coast and eastern plains; cooler in highlands
Terrain: flat coastal lowlands, central highlands, high Andes Mountains, eastern lowland plains
Size: 1138910 sq. km total (Land area: 1038700 sq. km  Water area: 100210 sq.km)
Population: 45,013,674 (July 2008 est.)
Languages: Spanish
Government: republic; executive branch dominates government structure
Capital city: Bogota
Legal system: based on Spanish law; a new criminal code modeled after US procedures was enacted into law in 2004 and reached full implemention in January 2008; judicial review of executive and legislative acts; has not accepted compulsory ICJ jurisdiction
Currency: Colombian peso (COP)
Licensing:

Country profile

Colombia has faced decades of political and economic struggles, much of it linked to narcotics trafficking and civil war. Since taking office in August 2002, President Alvaro Uribe has enacted political, fiscal and social reform policies, combined with increased security measures in order to promote economic growth and stability. The policies of the Uribe administration have had some success in improving economic conditions and the security situation in the country. There has been a substantial reduction in the number of attacks against Colombia’s energy infrastructure. However, while the security situation has improved, Colombia's longstanding civil conflict has taken its toll on the country's energy sector, with the country’s pipelines and power lines still experiencing occasional sabotage by insurgent groups.

Colombia is a net petroleum exporter, though declining production at its mature fields threatens to turn the country into an oil importer in the medium term. The Colombian government has implemented a partial privatization of state oil company Ecopetrol in an attempt to revive its upstream oil industry. Colombia is also an important producer of high quality coal. Because Colombia relies upon hydropower for the bulk of its electricity needs, it is able to export almost all of its coal production, making it one of the world’s largest coal exporters.

Energy production and consumption


Oil Gas
Production: 539,000 bbl/day (2005 est.) 6 billion cu m (2005 est.)
Consumption: 264,000 bbl/day (2005 est.) 6 billion cu m (2005 est.)
Exports: 289,700 bbl/day (2004 est.)  
Imports: 6,453 bbl/day (2004 est.)  
Reserves: 1 billion bbl (2007 est.) 109 billion cu m (1 January 2006 est.)
Major fields:



Colombia - recent news

05 Feb 25
Colombia: Arrow Exploration announces update on AB wells
Arrow Exploration, the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has provided an update on the operational activity at the Alberta Llanos field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest.
24 Jan 25
Gran Tierra Energy announces 2025 Guidance and Operations update
Gran Tierra Energy , a publicly listed diversified exploration and production company, with assets in Canada, Colombia, and Ecuador, has announced its 2025 capital budget, production guidance and operational update.
20 Jan 25
Colombia/Argentina: Interoil announces production report for November and December 2024
Interoil has announced November and December production figures for its assets in Colombia and Argentina. Interoil’s daily average total operated production in December reached an equivalent production of 2,502 boepd, expressing a significant improvement of 608 boepd from the previous month.
15 Jan 25
Colombia: GeoPark provides update on proposed acquisition of Repsol Exploration and Production assets in Colombia
GeoPark has announced that Repsol’s partner in SierraCol Energy Arauca has exercised its preemptive rights to acquire 25% of Repsol’s interest in SierraCol Energy Arauca ('Llanos Norte') in Arauca Department, Colombia.
06 Jan 25
Colombia: Arrow Exploration announces exploration well AB-1 results
Arrow has announced the results of the AB-1 well. The first well drilled into the Alberta Llanos field, has confirmed the productive potential of the multi-pool field. The well encountered multiple hydrocarbon-bearing intervals.

Colombia - more news

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