Colombia certifies 3.1bn oil reserves

related stories

By News Wires

 03 May 2010 21:29 GMT

Colombia has certified a total of about 3.1 billion barrels in oil reserves, including proven, probable and possible reserves, Mines and Energy Minister Hernan Martinez said today.



In an interview for the Reuters Latin American Investment Summit, Martinez said Colombia would end this year with oil production of 800,000 barrels per day and lift output to more than 1 million bpd of crude by next year.

"New data has just come out showing we have something like 2.6 billion barrels of reserves ... that are proven with development installations in place and of probables," Martinez said. "And we have another 500 million additional barrels in possible reserves that need more work to develop them."

Colombia has seen a…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index