6th International Congress and Exhibition
Colombia Oil and Gas
24-25 July 2024, Bogota, Colombia
Untapped potential waiting to be discovered:
Ecopetrol estimates Colombia's reserves potential at an equivalent of 47 billion barrels of oil, and a large part of the country remains unexplored.
Improved economic stability:
Colombia offers its investors a stable and predictable business environment, alongside a strong legal system. Colombian law guarantees equal rights to national and international investors, as well as the free flow of foreign capital.
Excellent geographic location:
With coasts on both the Pacific and Atlantic Oceans, Colombia offers easy access to the Gulf of Mexico, the east and west coasts of North America, the East Asian markets, as well as Central and South America.
Open to private investment:
Colombia encourages and facilitates private investment in the Oil and Gas sectors through direct negotiation, where priority is given to a first-come, first-served approach.
Attractive investment conditions:
Colombia's new Royalties and Tax contract model is among the most attractive in the world. It provides flexibility and profitability to foreign investors in the Oil and Gas sector.
Extensive transport infrastructure:
Colombia offers a full pipeline network for hydrocarbons and their products. A new pipeline for transporting gas to Venezuela has recently been completed and plans are currently in place to extend the gas transportation infrastructure to Panama.
Highly skilled labor
in the technical and professional fields: After more than 80 years of activity in the Oil and Gas industry, Colombia has developed a highly skilled workforce in both the technical and professional fields. You will also find that every Colombian is hardworking, loyal and will want to help you achieve your objectives.
Investment: US$150 M
Description: Interconnection project of the original crude unit to increase its production capacity from 150 thousand barrels per day of crude oil to an average of 200 thousand barrels per day, which will increase the production of clean fuels such as gasoline, ultra-low sulfur diesel and jet.
Investment amount: US $249 M
As part of its 2040 Plan, Ecopetrol will invest around US $249 M in decarbonization and fuel quality improvement projects in 2023. The 2022 to 2024 plan, includes resources for more than US $1.4 billion in projects for circular water management, decarbonization, energy efficiency, use of energy and alternative sources, improvement in the quality of fuels, and green and blue hydrogen studies and pilots for applications in refineries and mobility.
Investment: US$6000 M
Begins construction: 2020.
Begins operations: 2023
Located in Puerto Berrío, near the Magdalena River. It will enter the system aiming to being a complement to the Cartagena Refinery, which will allow it to process from diesel to naphtha, gasoline and jet fuel. It will have five functional business units: the fuel processing complex, a 135 megawatt power plant, a river port on the Magdalena River, an industrial park to complement transportation, and a finished products transfer plant. Capacity 150,000 barrels per day.
Permanent Area Allocation Process (PPAA) 2020
Investment: Between US $ 6 M and US $ 12 M
The development of the third cycle (auction) of PPAA Areas is planned for October, with the presentation of bids. The National Hydrocarbons Agency (ANH) has received five letters of interest and / or requests for the incorporation of Areas, which confirms the interest of investors to carry out activities in Colombia despite the challenging circumstances of the pandemic and low oil prices.
2019 ended with the award of 26 new Areas, of the 70 that were offered under the PPAA. In addition, five offshore Exploration and Production (E&P) contracts were signed in waters of the Caribbean Sea. In total, 31 blocks were granted with investment commitments of more than US $ 2,776 million. Under current circumstances, most of this investment has been delayed.
The ANH is already reviewing the competitiveness of its value offer for the PPAA´s fourth cycle, scheduled for 2021, in contractual terms and in new Areas, to be first on the list when exploratory investment picks up again, once the pandemic is overcome. The hydrocarbon sector will play a fundamental role in the economic reactivation of Colombia, a destination that due to its legal stability and favorable contractual conditions generates trust and interest among the investment community.
CANACOL – Gas Pipeline
Investment: US$400 M
Begins operation: 2023
Assembly of a gas pipeline that will connect the fields in the department of Córdoba with the city of Medellín. This line will have the capacity to transport 100 mpcd of gas. The 300-kilometer (185-mile) pipeline will be ready by the end of 2023, fully financed with the company's own cash flow. The talks are well advanced with the partners that will participate and with the banks and funds that will finance the project. The environmental license is expected to be approved in 2021. The production level in 2023 will be above 350 mpc.
MINISTRY OF MINES AND ENERGY’S HYDROGEN ROADMAP
Investment: US $2.5 B – US $5.5 B
A long-term plan for clean hydrogen was published by the Mines and Energy Ministry last year. It outlines ways to reach electrolysis capacity of up to 3GW by 2030 and takes into account widespread use of fuel cell vehicles. The road map sets the goal of 50 kilotons of capacity in blue hydrogen obtained from natural gas in, in addition to emphasizing the significant potential for the generation of green hydrogen from renewable energies through the electrolysis of water.
Following a call organized by Fenoge in July 2022, the government declared that financing for 10 hydrogen projects totalizing about US$1.4 M had been approved. Pre-investment studies for projects in the prefeasibility or feasibility stages across the green and blue.
More than 200 decision makers attend to Colombia Oil & Gas each year. This key platform for executive leaders of the hydrocarbons business, brings together delegates from local and international investors, as well as government representatives, regulatory agencies, academics, project owners, and providers of technology and services.
20+ investment projects related to production, exploration, transport, and energy transition in Colombia´s Oil and Gas Industry, that are in various stages of planning, development, building, expansion, and modernization.
More than 40 industry leaders and experts will present and discuss the key topics influencing the development of the industry in Colombia and Latin America.
Extraordinary networking possibilities! 1:1 and face-to-face business meetings, networking round tables, cocktail receptions, and interactive conversations. Use this chance to trade business cards with EVERY conference attendee!
Strategic Opening Session: The Role of the Hydrocarbon Sector in the Energy Transition Era: Government policies and strategies to attract international investors towards a greener oil and gas industry.
Newest Technologies for Oil and Gas Projects: Discover cost-efficient key solutions to the oil and gas industry's biggest innovation challenges.
Status of the Most Auspicious Oil and Gas Projects of Colombia: Join the main companies and learn about the prospects for the coming years in the field of E&P, transportation and refining of hydrocarbons.
NEW! Progress and Challenges in the LNG and Hydrogen Industry: Medium and long-term perspectives: what are the infrastructural and technological requirements to improve the national industry competitiveness?
Recent Gas Reserve Discoveries and Future Explorations: Meet the main players in offshore and onshore exploration campaigns and their short and mid-term perspectives. Will these explorations guarantee demand coverage in the next years?
Towards a Profitable Greener Industry: Cost efficient strategies to achieve a more sustainable hydrocarbon industry. Introduction of technological options to reduce carbon emissions, treat fuel impurities and other.
Operational Continuity Amid the New Energy Landscape in Colombia: Industry strategies to face the new internal regulations.
IMPORTANT! Round Table. New Technologies to Develop Low-Permeability Reservoirs: How would the hydrocarbon industry benefit from the application of technology to optimize production from tight deposits?
Ask your burning questions, ask for advice, and share your experience during and after the sessions!
24-25 July 2024,