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If the country hopes that the oil sector will continue to play a leading role in contributing to national finances, the conditions must be met for that, with a sustained rebound in investment in exploration and production, production the country's oil support at current levels of 860,000 barrels per day, as well as increase reserves.
This has been emphasized by the Colombian Petroleum Association (ACP), whose president, Francisco José Lloreda, has indicated that it is necessary to increase investment in production of oil and gas. from $ 4,500 million in 2018 to a level of $ 7,000 million over the next four years, with an annual increase of 55%.
The union also specified that this figure would maintain not only the current production level, but increase by 2 billion barrels proven reserves of crude, which in 2017 totaled 1,782 million maintain revenues to ensure macroeconomic stability and achieve the medium-term fiscal framework objectives.
Consolidation calculations show that between 2018 and 2022, the hydrocarbon sector could generate 100 billion pesos of tax revenue for taxes, economic contractual rights, dividends and royalties for regions to take advantage of initiatives to continue to generate progress and improve the quality of life of Colombians.
"From the ACP, we have proposed priority proposals to make these investments a reality, to make the contributions planned for the country and to remain an ally for their development," said Francisco José Lloreda, ACP President.
Developing Exploration
And stated that these actions are intended to encourage exploration and production in conventional deposits, incorporate additional reserves of oil and gas into new geological boundaries, render viable operations on the territory and ensure the supply of liquid and gaseous fuels in a competitive market
For this, have affirmed the ACP countries, the priorities are to realize that the country has a tax system competitive, in response to adjustments in the region after the decline in oil prices, accelerate the allocation of areas, address the reform of the general royalty system, examine the operating costs of enterprises, consider the ostos operational, ensure legal stability, make competition in the import of liquid fuels viable and gradually release the market and labor on an enlistment plan for the incorporation of new reserves, with unconventional deposits (YNC).
The National Hydrocarbons Agency expects that the stabilization of the price of crude oil will continue to guarantee self-sufficiency and levels of production that will continue to generate tranquility in public finances.
ECONOMICS AND BUSINESS
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