Country Report

Colombia upstream summary

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21 February 2020

Colombia upstream summary

Report summary

Energy landscape - The Colombian NOC, Ecopetrol, continues to dominate the energy landscape, both in operated and joint venture projects, with almost 70% of the country's current production. Since restructuring Ecopetrol and establishing the National Hydrocarbon Agency (ANH) in 2003-2004, Colombia has enjoyed a tremendous surge in E&P activity. Appealing fiscal terms and increased security helped encourage an influx of international companies and investment capital, and oil ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Introduction
      • Regional tectonic framework and basin evolution
    • Catatumbo basin
    • Guajira basin
    • Sinu - San Jacinto basin
    • Putumayo basin
    • Llanos basin
    • Lower Magdalena basin
    • Middle and upper Magdalena basin
    • Licensing
    • Drilling
      • Drilling activity
      • Success rates
    • Liquids
    • Sales gas
    • Liquids
    • Gas
    • Oil infrastructure
    • Gas infrastructure
    • Key legislation
    • State oil company
    • State participation
    • Licensing
      • 2004 Concession contract
      • Association contract
      • Risk Participation contract
      • Risk Sharing contract
      • Special terms for small/marginal fields
      • Incremental Production contract
      • Production Services contract
      • Lateral and Deep Play contracts
      • Joint Venture contracts
      • Farm-Out contracts
    • Overview
      • Upstream
      • Mid / Downstream
    • Current fiscal terms
    • Basis
    • Government equity participation
      • Royalty
      • High price fees
      • Corporate income tax
    • Fiscal treatment of decommissioning costs
    • Product pricing
    • Historic fiscal terms
    • 2004 Concession model
      • State equity participation
      • Carry and reimbursement
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty and other production taxes
      • Licensing round 2017 terms
      • Licensing round 2014 terms
      • Additional ("X") participation percentage
      • Contractor revenue entitlement
      • Product pricing
      • Corporate (or petroleum) income tax
      • Fiscal / Contractual ring-fences
      • Dividend withholding tax
    • Additional Development contracts
      • Basic production percentages
      • Cumulative production
      • Daily production
      • WTI price
    • Association contracts
      • State equity participation
      • State equity participation under Risk Sharing contracts
      • State equity participation under special terms for small/marginal fields
      • State equity participation under Incremental Production contracts
      • Carry and reimbursement
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty and other production taxes
      • Contractor revenue entitlement
      • Product pricing
      • Corporate (or petroleum) income tax
      • Fiscal/Contractual ring-fences
      • Dividend withholding tax
      • Other taxes
      • Calculation of marginal government take
      • 1989 - 1993 Association contract
      • 1994 - 1997 Association contract
      • 1997 - July 1999 Mature ("Active") Area Association contract
      • 1997 - July 1999 Frontier ("Inactive") Areas Association contract
      • Post-July 1999 Association contract
      • 2004 Concession contract

Tables and charts

This report includes 70 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Reserves and contingent resources at 01/01/2021
  • Geology: Image 2
  • Geology: Image 3
  • Contracts Awarded 1990 - 2017
  • Reserves and resources: Table 1
  • Production: Table 1
  • Production: Table 2
  • Liquids Production
  • Liquid Production by Basin
  • Production: Table 3
  • Production: Table 4
  • Gas Production
  • Infrastructure: Table 1
  • Infrastructure: Table 2
  • Oil Infrastructure Map
  • Infrastructure: Table 3
  • Gas Infrastructure Map
  • Fiscal Terms
  • Fiscal terms: Table 2
  • Fiscal terms: Table 8
  • Fiscal terms: Table 9
  • Basin Map
  • Exploration Drilling
  • Drilling Activity and Commercial Success Rates
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Fiscal terms: Table 7
  • Fiscal terms: Table 10
  • Fiscal terms: Table 11
  • Fiscal terms: Table 12
  • Fiscal terms: Table 13
  • Fiscal terms: Table 14
  • Fiscal terms: Table 15
  • Fiscal terms: Table 16
  • Fiscal terms: Table 17
  • Fiscal terms: Table 18
  • Fiscal terms: Table 19
  • Fiscal terms: Table 20
  • Fiscal terms: Table 21
  • Fiscal terms: Table 22
  • Fiscal terms: Table 23
  • Fiscal terms: Table 24
  • Fiscal terms: Table 25
  • Fiscal terms: Table 26
  • Fiscal terms: Table 27
  • Fiscal terms: Table 28
  • Fiscal terms: Table 29
  • Fiscal terms: Table 30
  • Fiscal terms: Table 31
  • Fiscal terms: Table 32
  • Fiscal terms: Table 33
  • Fiscal terms: Table 34
  • Fiscal terms: Table 35
  • Fiscal terms: Table 36
  • Fiscal terms: Table 37
  • Fiscal terms: Table 38
  • Fiscal terms: Table 39
  • Fiscal terms: Table 40
  • Fiscal terms: Table 41
  • Fiscal terms: Table 42
  • Fiscal terms: Table 43
  • Fiscal terms: Table 44
  • Fiscal terms: Table 45
  • Fiscal terms: Table 46
  • Fiscal terms: Table 47
  • Fiscal terms: Table 48

What's included

This report contains:

  • Document

    Country Overview

    PDF 17.19 MB

  • Document

    Country Overview

    XLS 1.51 MB