Colombian oil company Ecopetrol aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief Executive of the majority state-owned company Felipe Bayon said on Monday. “Ecopetrol has a portfolio that is largely heavy crudes,” Bayon said. “This is 40 API crude. So it’s very good in terms of balancing the portfolio”.
The World Economic Forum announced the co-chairs of the annual Sustainable Development Impact Summit, taking place from 21 to 24 September. Under the theme, “Realizing a Great Reset for Sustainable Development”, the summit will initiate, accelerate and scale-up entrepreneurial solutions to tackle climate change and advance sustainable development.
China-based photovoltaics maker Trina Solar inaugurated its first solar park in Colombia, the 27.23-MWp Bosques de los Llanos 1, located in Puerto Gaitan (department of Meta). It is the first of three Llanos solar projects included in the agreement between Trina and Matrix Renewables to install 450 MW of capacity in the next two years. The project, the first to secure project financing, was financed by Colombian development bank Financiera de Desarrollo Nacional (COP 24 billion /USD 6.5m/EUR 5.4m) and Davivienda.
The National Administrative Department of Statistics (DANE) reported that the real output of Colombian manufacturing fell 8.5% in July 2020 compared to the same month of 2019. DANE projects that industrial production will fall between 10% and 6.6% in August. Real sales decreased by 12.4%, while employed personnel decreased by 5.2%.
Colombia has potential natural gas reserves of 54 trillion cubic feet (Tcf), enough for 130 years of self-sufficiency, revealed Promigás in its latest industry report. Of these reserves, 30 Tcf are offshore, and 24 Tcf are in unconventional deposits in Magdalena Medio, Cesar-Ranchería and Catatumbo. In total, these represent 16 times the current proven reserves of the country of 3.2 Tcf. Four fracking pilots have projected investments of $ 100 million each.