Colombia’s government and the Revolutionary Armed Forces of Colombia (FARC) are tantalisingly close to a peace treaty that would bring a safer working environment for oil companies, but some expert advisors are highlighting new challenges that may be around the corner.

A peace treaty should allow ­Colombia to redirect some of its $8.7 billion military and security budget toward broader development objectives in the economic and social fields, possibly boosting overall growth, according to consultancy firm IPD Latin America.

But