Oil and gas exploration and production projects attract foreign investment by 2020
The Minister of Mines and Energy, María Fernanda Suárez, commented that during 2020, US$5 billion of foreign investment for oil and gas is expected to arrive in the country. Of this US$5 billion, US$4 billion would be used in production, which represents an 18% increase compared to 2019. The remaining US$1 billion would be used in exploration.The Minister of Mines and Energy, María Fernanda Suárez, commented that during 2020, US$5 billion of foreign investment for oil and gas is expected to arrive in the country. Of this US$5 billion, US$4 billion would be used in production, representing an 18% increase compared to 2019. The remaining US$1 billion would be used in exploration.
According to figures from the Bank of the Republic, in 2019 Foreign investment banking in oil, hydrocarbons and mining increased by 4.9 to rise from US$6,536.2 million in 2018 to US$6,857.8 million in 2019.
>> read also, Opportunity to invest in Colombia’s natural gas sector The minister also said that there is a regulatory agenda planned for 2020 that is very relevant for the sector. Such as: the wholesale commercialization of transportation and supply capacity. As well as the role of the new market manager. That it must manage the cost of natural gas and thus support the activation of the economy. He indicated that the law of concordance and concurrence will be presented; the law of legal extraction of minerals; the law of strengthening of the Superintendence of Services and the law of green growth, in conjunction with the Ministry of Finance. In mining, one of the 17 sustainable development objectives for 2020 is to have 10,000 workers with legality requirements and 200 mining titles with technical assistance. Translated with www.DeepL.com/Translator (free version)
