Minminas says the current contracts would guarantee the country’s self-sufficiency

The current contracts have the capacity to continue drawing resources and reserves into the country, both gas and oil, the Ministry of Mines and Energy indicated when presenting the balance of hydrocarbon contracts and resources available for the just energy transition.

This report compiled the main findings of the analysis of the current exploration and exploitation contracts in advance with the National Hydrocarbons Agency (ANH), with the aim of achieving efficient development of the sector, leading to new additions of reserves from the current resources available to the country, as well as an increase in production levels.

On the other hand, the report highlights that the recovery factor for the country averages 21.7% while the international average is around 35%.

“The government is evaluating the right incentives to drive an improvement in production through the adoption of improved recovery techniques as one of the main ways of adding reserves is precisely through the above technique,” ​​he said.

It was also shown that the offshore basins (Colombia, Guajira and Sinú offshore), as well as the Lower Magdalena Valley, in the north of the country, are the ones that can contribute most to the gas supply.

Finally, in this analysis it was possible to determine that of the 35 suspended contracts, 32 have areas with exploratory commitments for the search for new hydrocarbon resources, which could be carried out with the support and guidance of the Ministry of Mines and Energy and eventually adding resources to the country.

Source: El heraldo