Investment in sector of
Goods & Services Oil

Oil & Gas Goods and Services

Colombia ranks alongside the first twenty oil-producing countries in the world producing over a million barrels of oil per day, making it a great place to invest in oil goods and services firms that cater to the extraction, exploration and production processes in the oil sector..

Oil is the global energy economy’s driving force, boosting economic growth and increasing demand. Nontheless, this is a limited resource and is becoming more scarce.

In Colombia, over 30% of of explored wells are successfull, and more than 50% of the total territory is as yet unexplored. Colombia is the only country in South America with access to both the Atlantic and the Pacific oceans allowing international firms to reach different countries worldwide.

  • The 2014 Colombia Round (Ronda Colombia 2014), organized by the National Agency of Fossil Fuels (Agencia Nacional de Hidrocarburos - ANH), yielded positive results after 26 concessions were allocated. This will represent US$1.4 billion in investments to conduct explorations in the coming years. (ANH, 2014)
  • Colombia became the 4th largest oil producer in Latin America above Argentina, Ecuador and Peru. (BP Statistical Review of World Energy, 2016)
  • The priority for Colombia is to increase its confirmed oil reserves. In 2015, 2,002 millions of barrels in oil reserves were registered. (ANH, 2016)
  • The oil and gas industry in Colombia has more than 80 years of experience, which has led to the development of a skilled and competitive workforce for different activities in the sector. (ANH, 2015)

 

These are just some of the reasons of why you should be investing in the petroleum industry in Colombia. Find out more why you should choose Colombia.

Download here:

pdfInvest in Oil Goods and Services 20161.06 MB

Install service or assets companies required for the offshore industry

  • The offshore resources would multiply oil reserves by six in the country, meanwhile, gas reserves would tripled. (ANH)
  • Currently, there are 23 exploration blocks. According to the results of the Round Colombia 2014 five blocks were awarded. (ANH)

Develop the potential of unconventional resources

  • Colombia is the third country in South America with the greatest potential in shale gas and liquefied petroleum gas (LPG) after Brazil and Argentina. (ANH)
  • 24 blocks awarded in Round Colombia 2012 and 2014.

Install service or assets companies required in the exploration and production of hydrocarbons and services in Upstream

  • Oil production increased 91.5% over the last 10 years (2005-2015). In 2015, 1,007 thousand barrels per day (KBD) were achieved. (BP Statistical Review of World Energy)
  • It is estimated that the proven oil reserves in Colombia will reach 2.479,8 billion barrels in 2018. (Business Monitor Internacional)

Install service or assets companies required in transportation, storage and refining, Midstream and Downstream services

  • It is estimated that Ocensa and other lines extensions allows the system to reach an average of 1.2 million barrels per day transported.

There are many regions in Colombia with a great potential for oil and goods services firms:

Success Stories

Companies that have invested in Colombia in the sector of oil goods and services:

  • Jereh (China): the group of companies specializing in services for the oil industry, established new strategic partnerships with Colombian companies to expand its coverage in the domestic market.
  • Estrella International Energy Services (Canada): the Canadian signed an agreement to acquire all of the shares of SAI Colombia. Estrella took control of 37% of oil platforms in the Colombian market and became the largest operator of holes in the country.
  • Halliburton (United States): the company arrived to Colombia in 1943. They offer general provision of services for the oil industry and develop several projects related with and supporting the oil sector process.
  • Emsa (Peru): the Peruvian company, leader in fixed and temporary building solutions, has developed projects in temporary housing and other infrastructure for the oil and mining sector.

These are just some of the reasons to invest in the Goods and Oil Services sector, read on to learn in detail these and more reasons to make Colombia the destination for your projects.

Investment Specialist:

  • Carolina Rodríguez: United States, Canada and Latin America.
  • Manuel Leiva: Europe, Asia and resto of the world.

At PROCOLOMBIA we cater to international companies, large enterprises and foreign government agencies interested in investment in Colombia.

Due to the nature of our activities, we do not attend to individual or personal investment requirements.

We suggest you review our Frequently Asked Questions on Investment in Colombia before you send us your inquiries.

If you are a corporate investor, please fill out our contact form.

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