Colombia: A Source of Hydrocarbons for the World

Abstract

Colombia progressively has become attractive to those exploring for oil. The policy established by the government in 1974 has attracted large-, medium-, and small-sized companies to come to the country in search for petroleum and gas reserves in the 780,000 km[sup 2] which encompass its 13 sedimentary basins. The dynamics with which association contracts can be signed with the state company Ecopetrol, has been a decisive factor in the success of its oil policy, a success reflected in the existence of over 90 contracts in force and the involvement of more than 40 foreign oil companies in operations in Colombia. Historically, exploration was carried out to search for hydrocarbons in known zones and in pursuit of traditional structures, which brought both, great discoveries and resounding failures. State of the art in exploration has permitted a better understanding of the geological phenomena which have led to the accumulation of hydrocarbons. Ecopetrol has begun to explore with the new [open quotes]play concepts[close quotes] taking into account aspects never before considered, weighing risk factors against the possibility of discovering important quantities of hydrocarbons in [open quotes]frontier regions.[close quotes] These new ideas allow the construction of geological models before deciding to drill. This [openmore » quotes]new focus[close quotes] is based on global geological analogies. We can say, for example, that the important hydrocarbon discoveries in the Eastern Plains alongside the Colombian Eastern Range foothill, have been the result of geological concepts evolution, now managed with highly adaptable designing and planning with universal criteria. All along its 1200 km appears to be the area of greatest oil potential.« less