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Ecopetrol, fracking, Colombia

Colombia committee endorses fracking pilots

BOGOTA, February 15, 2019 – A commission of experts has endorsed allowing oil and gas operators to carry out hydraulic fracturing pilots in Colombia, but with certain restrictions, local media reported Thursday.

 

The Ministry of Mines and Energy, National Hydrocarbons Agency and National Environmental Licensing Authority took part in months-long studies and analyses, determining that strict monitoring measures must be implemented during the pilots.

Furthermore, local communities must remain informed regarding progress at the projects, their health and safety must be monitored, and they must give their approval before pilot projects can move into commercial stages.

Hydraulic fracturing is not allowed in Colombia, but the technique is supported by the new administration of President Iván Duque. If unconventional projects are allowed to move beyond pilot phases, operators could unlock millions of barrels of reserves, raising the country’s R/P ratio, which currently stands at slightly more than five years.

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