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Colombia

In 2016, our presence in Colombia was focused on our Upstream business.

Net surface area
of mineral rights

28,148

km2


Net production

19,461

barrels of oil
equivalent per day


Net proved reserves

19.2

million barrels of oil
equivalent per day

Upstream

At the end of 2016, we owned mineral rights to 21 blocks in Colombia: 14 exploration blocks with a net surface area of 27,773 km2 and seven production/development blocks with a net surface area of 375 km2. Net production for the year was 5.1 Mbbl of liquids and 11.2 Bscf of gas, in total 7.1 Mboe (19,461 bbl/d) of petroleum. Net proved reserves at year end were estimated to be 19.2 Mbbl.

2016 milestones

  • Production in the early phase (initially started in November 2010) in the production area of field CPO-9 in Colombia resumed on October 3rd, 2016. In the first half of 2016, Colombian authorities (ANH) approved the temporary suspension of production for six months starting in March 2016 as a result of crude oil prices. The well drilling plan was moved to 2017. Repsol holds a 45% interest in the CPO-9 block operated by Ecopetrol, where the discovery of hydrocarbons at the Nueva Esperanza-1 exploratory well was announced in 2014. This is also the location of the Akacias field, currently in the pre-development phase. Work was carried out on the Akacias field to define the development plan in order to make the final investment decision (FID) in 2017.
  • In the first quarter of 2016, the Bayonero-01 exploratory well was completed in the Chipirón block with negative results and the Payero-1 exploratory well was completed in November, also negative.

 

Get the latest information on Repsol's presence in Colombia

Information on net production, net proved reserves, and mineral rights as of December 31st, 2016