Colombia to Double Oil
Production by 2015
BOGOTA - Colombia is planning to double its
oil production in five years and aims to
reach the figure of 1.3 million barrels a
day, a specialized source reported on
Tuesday.
The Colombian National Agency of
Hydrocarbons (ANH) report corroborates those
prospects and point out that the inventory
of the oil and gas accounts for the ends
2014 leads to be very optimistic.
The ANH expects oil extraction to exceed 800
barrels a day for the end of 2011 and the
same increase is expected to occur in the
gas sector under the current growth trend.
On the basis of oil production's figures in
March (763,000 barrels), the national
company ECOPETROL's officials applauded the
energy industry's prospects in Colombia.
In oil slang one barrel is equivalent to 159
litres.
Saudi Arabia 9.5 million barrels a day,
Russia (9.4), Venezuela (3.1) and Iran
(3.97) are the greatest oil powers of the
world.
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