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Colombia Targeting 1mn bpd Production Through Existing Fields

OIL

Colombia is targeting 1mn bpd of crude production according to its Mines and Energy Minister Andrés Camacho this week.

  • Colombia can increase production to around 800,000bpd by the end of the year, up from an average of 774,000bpd in Q1 he said.
  • Colombia aims to boost existing production rather than further exploration due to government pressure.
  • It aims to do this by improving contract conditions for producers and using enhanced oil recovery techniques.
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