South America / GoM
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
22 Jul 24 |
Colombia: Frontera announces agreement between Puerto Bahia and GASCO to pursue LPG project in Cartagena, Colombia Frontera Energy and GASCO have entered into a Framework Collaboration Agreement to jointly pursue a liquified petroleum gas ('LPG') project at Puerto Bahia's state-of-the-art liquids and dry cargo port terminal strategically located in the Bay of Cartagena, Colombia. |
19 Jun 24 |
Colombia: Arrow announces first Ubaque horizontal well results Arrow Exploration has provided an update on operational activity, particularly at the multi horizon, Carrizales Norte ('CN') field on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest. Arrow has put on production the first of four Ubaque horizontal wells planned for 2024. |
30 May 24 |
Colombia: Arrow Exploration announces Q1 2024 interim results Arrow Exploration, the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has announced its Q1 2024 interim results. In Q1 2024, Arrow experienced its strongest quarter to date for production and EBITDA. |
16 May 24 |
Colombia: Arrow Exploration announces the spud of the CNB HZ-1 well Arrow Exploration has announced the spud of the Carrizales Norte B pad Horizontal Well 1 ('CNB HZ-1') on the Tapir Block in the Llanos Basin of Colombia. The CNB HZ-1 well will develop the Ubaque formation which has been successfully delineated by the CN Q1 2024 well program. |
18 Apr 24 |
Colombia: Canacol Energy announces new gas discovery at Chontaduro-1 Canacol Energy has announced a new gas discovery at the Chontaduro-1 exploration well located on the 100 percent operated VIM21 Exploration and Production contract. Canacol is currently skidding the rig to drill the Chontaduro-2 appraisal well, targeting the CDO sandstone reservoir in the southern part of the Chontaduro discovery. |
Colombia - more news
Other countries in this region
- Argentina,
- Aruba,
- Bahamas,
- Barbados,
- Belize,
- Bermuda,
- Bolivia,
- Brazil,
- Canada,
- Chile,
- Costa Rica,
- Cuba,
- Dominican Republic,
- Ecuador,
- Falklands,
- French Guiana,
- Grenada,
- Guatemala,
- Gulf of Mexico,
- Guyana,
- Honduras,
- Jamaica,
- Mexico,
- Nicaragua,
- Panama,
- Paraguay,
- Peru,
- Suriname,
- Trinidad,
- Uruguay,
- USA,
- Venezuela