Fast Market Research recommends "Colombia Oil & Gas Report Q4 2012" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 11/08/2012 --BMI View: Colombia's oil sector has seen impressive levels of growth since the mid-2000s and we expect that positive trend to continue throughout our 10-year forecast period, with oil production expected to surpass 1mn barrels per day (b/d) in 2013. This growth will be driven by an improving security situation, which should allow for expanded exploration activities, improved transport infrastructure and an attractive fiscal regime.

Main trends and developments we highlight for Colombia's Oil and Gas sector are:

- An improving security situation and the country's attractive fiscal regime are likely to continue to attract significant levels of foreign investment into Colombia's oil sector. Production has grown by more than 70% since the mid-2000s and we expect that upward trend to continue. Production will come close to achieving the government's 1mn b/d target in 2012 at 990,000b/d before surpassing that target in 2013. By 2016, we forecast production topping 1.34mn b/d, making it one of Latin America's top oil producers.

- Although most investment has been aimed at tapping Colombia's oil reserves, the effect of rising investment is being felt in the gas sector. Gas production has nearly doubled in the last decade and we see scope for strong growth in the years ahead. Output is forecast to rise from 11.0 billion cubic metres (bcm) in 2011 to 13.5bcm in 2016.

- Production will continue to outpace consumption, leaving room for growing levels of exports. The bulk of these exports will continue to flow via pipeline east into Venezuela. However, we are now forecasting small-scale liquefied natural gas (LNG) exports starting 2013. Pacific Rubiales, operator of the country's largest oil field, will lead the LNG export charge. The company plans to build a 0.7bcm per annum export facility on the Caribbean coast, where it will target regional markets such as Panama, the Dominican Republic and Puerto Rico.

- Rising oil demand is fuelling investment in the downstream sector. Ecopetrol's Bolivar refinery in Cartagena, the country's second biggest facility, will be upgraded over the course of 2013 and 2014. The expansion project, which received a US$2.84bn loan from the US Export-Import Bank, will see the plant's capacity rise from 80,000b/d to 165,000b/d. Furthermore, the 50,000b/d expansion of Ecopetrol's Barrancabermeja refinery should bring the plant's capacity to 300,000b/d. We see the country's total processing capacity rising from 336,000b/d in 2011 to 466,000b/d by 2014.

View Full Report Details and Table of Contents

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Energy research reports at Fast Market Research

You may also be interested in these related reports:

- Petrominerales Ltd. Analysis Across the Oil and Gas Value Chain Report
- Pacific Rubiales Energy Corp. Analysis Across the Oil and Gas Value Chain Report
- Petroleos Mexicanos Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011
- PetroBakken Energy Ltd. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011
- Repsol YPF, S.A. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011
- Perpetual Energy Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011
- Caza Oil & Gas, Inc. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011
- Sonde Resources Corp. Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011
- OAO NOVATEK Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011
- BG Group plc Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2011