The oil industry would generate 100 billion dollars a year for the country | National

Between 2018 and 2022, the hydrocarbon sector could generate about $ 100 billion in tax revenue for the country for taxes, contractual economic rights, dividends and royalties for the regions , which would take advantage of initiatives to continue to generate progress and improve the quality of life of Colombians, estimate the calculations of the Colombian Petroleum Association, ACP

However, to do this, it asks to increase investments in exploration and production at 7,000 million dollars a year.

This figure, according to the badociation, would maintain current production of 860,000 b / d, an increase of 2,000 million barrels of oil reserves (in 2017 totaled 1,782 million barrels) and maintain revenues for ensuring macroeconomic stability and achieving the objectives of the medium-term financial framework

Investment in the sector was reactivated

According to Francisco José Lloreda Mera, Executive President of the ACP, l & # Investment in the sector has been reactivated, "but there is still the one implemented in previous years to lower international oil prices."

The ACP raised priority proposals to implement these investments such as the establishment of a competitive tax system, the acceleration of the distribution of zones, the reform of the general royalty system, the 39, review operational costs, legal stability, the import of liquid fuels and gradually release the market, and work on the plan to enlist for the incorporation of new reserves.

These actions aim at encouraging exploration and production in conventional fields, incorporating additional reserves of oil and gas into new geological frontiers, achieving viable operations in the territory and ensuring the supply of liquid fuels and gaseous in a competitive market.

"We have the opportunity to take advantage of the richness of our subsoil and turn it into an instrument of sustainable development for the country and its regions." Today, we reaffirm to the country that we We are determined to work together with government, regions and communities to create a competitive sector that can continue to contribute to Colombia's progress as it has done for the past 100 years, "Lloreda Mera concluded.