2018’s general election re-established sector optimism for Colombia in the oil & gas space after years of stagnation and limited internal reserves.
For years, production of natural gas was geared entirely towards domestic consumption due to a cautious approach to the country’s reserves; estimates in the early 2000s suggested that commercial levels may only last until 2022. However, the establishment of the National Hydrocarbons Agency back then steadied the ship, and with a new pro-business government, a host of new international interest and offshore projects are now being mooted.
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