Colombia: oil reserves to triple over next twenty years

At the launch of Oil and Gas Expo 2012, the largest fair of Colombia oil, the manager announced the conclusion of the study by the firm Arthur D. Little for Mining and Energy Planning Unit. Thus, according to the document, the accounts could be completed in the next two decades with 1,200 million barrels in heavy oil production, 1,000 million barrels of unconventional fuels, 3,000 million barrels in increased recoveries factor, the Like other 3,000 million in conventional fields, but mainly offshore. In his presentation, final results confirmed Cabrales Round this year, where 49 of the 115 allocated blocks that were offered, ie 43%, reflecting very good numbers against an average of 30% is usually seen in the world’s oil rounds. Read Article