Colombia needs to pursue a much more aggressive oil exploration strategy in order to avoid highly contested fracking activities or an increase in gas prices as a result of importing, according to GlobalData. The leading data and analytics company notes that the country has seen no large discoveries in the last five years, and its crude oil and natural gas output is projected to decline by more than 282,000 barrels of oil equivalent per day (boed) in the next five years. This amount is enough to provide electricity for more than 130,000 homes during a whole year.
Svetlana Doh, Upstream Oil & Gas …
Aggressive oil exploration needed in Colombia to avoid high imported gas prices and fracking, says GlobalData
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