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

29 Apr 25
Colombia: Arrow Exploration announces 2024 audited Y/E and Q4 2024 results
Arrow Exploration, the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has announced the filing of its Annual Audited Financial Statements and Management's Discussion and Analysis ('MD&A') for the quarter and year ended December 31, 2024 and the filing of its 2024 year-end reserves report.
28 Apr 25
Colombia: Shell to exit offshore gas projects in Colombia's Caribbean
Shell is to exit three offshore gas projects in Colombia's Caribbean that it owns with Colombia's state-run oil company Ecopetrol. Shell acquired a 50% operating stake in Col 5, Purple Angel and Fuerte Sur deepwater blocks in 2020.
22 Apr 25
Colombia: Mainstream Renewable Power sells 675 MW Colombian portfolio to Celsia
Mainstream Renewable Power, the pureplay global wind and solar company majority-owned by Aker Horizons, has sold its 675 MW portfolio of wind and solar assets under development in Colombia to Celsia, a local energy company, part of the Argos Group. The divestment marks Mainstream’s exit from the Colombian market.
10 Apr 25
Colombia: Arrow Energy announces update on recent operational activity on the Tapir Block in the Llanos Basin
Arrow Exploration, the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, has provided an update on recent operational activity on the Tapir Block in the Llanos Basin of Colombia where Arrow holds a 50 percent beneficial interest.
17 Mar 25
Colombia: STRYDE lands first Mini Seismic System sale in Latin America
STRYDE, the global leader in affordable and scalable onshore nodal seismic technology, has announced the first sale of its Mini Seismic System in Latin America to Energy Geophysical Services SAS (EGS), a provider of seismic exploration services in Colombia.

Colombia - more news

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