Colombia oil and gas E&P investment could jump 8% in 2025, industry group says
The Colombian Oil and Gas Association (ACP) said the resources would however, maintain the South American nation's current levels of crude oil production.
Investment last year was $4.33 billion, according to the ACP.
"Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment," ACP President Frank Pearl said.
"For gas, we are not managing to either increase production or replenish reserves, which is double the challenge when it comes to energy self-sufficiency," he added.
The ACP estimated that $740 million would be invested in exploration this year, while $3.94 billion would go toward production so the country can keep pumping between 760,000 and 770,000 barrels of oil equivalent per day, similar to the 772,000 boepd recorded in 2024.
However, it predicted that gas output would decline to 905 million cubic feet per day, compared to 959 million cubic feet last year.
Since coming into office in 2022, President Gustavo Petro has sought to reduce the country's dependence on fossil fuels, a major contributor to the nation's economy, and move towards solar and wind energy projects.
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