Ecopetrol Doubles Exploration Investment

Ecopetrol Doubles Exploration Investment

Ecopetrol Grows Oil Production, But Risks Remain

Ecopetrol has enjoyed recent success with exploratory wells close to its current operating blocks

Ecopetrol increased its exploration budget from $280 million to $650 million. As a result, onshore exploratory wells have doubled to 11 in 2017. Latam Energy Advisors advises companies on environmental and geotechnical work in Colombia’s oil region.

A well in the Colombian area of Santander discovered crude oil, and the other discoveries have been offshore in the Caribbean and in the Gulf of Mexico. EHI Corp. and Hocol (an Ecopetrol subsidiary) also recently participated in a discovery in the Colombian Caribbean.

The most strategic of the recent finds are the resources in the Santander area. Ecopetrol holds a 50% interest and Parex Resources operates the field. The Santander discovery is close to two crude oil receiving stations, Payoa and Provincia, and the large Barrancabermeja refinery.

Please contact Latam Energy Advisors so that we can help your company increase oil and gas production. We work on exploration or enhanced recovery projects at mature fields. Latam Energy Advisors is also on Twitter and YouTube.

Kijana Mack, Senior Consultant