ANH: Foreign Investment in Colombia Set Record in 2006



Foreign direct investment in Colombia's oil and gas industries during 2006 totaled a record US$1.5 billion, hydrocarbons regulator ANH said in a statement.

The figure for this year is expected to at least match 2006 levels, the statement added.

In 2002, the oil industry reported foreign investment of US$449 million. In 2005, the figure had risen to US$1.13 billion and for the first nine months of last year the amount was US$1.29 billion.

ANH's director general Armando Zamora said improved security in previously dangerous areas of Colombia has allowed investors to expand E&P efforts in places such as Choco, Catatumbo, Villarica in Tolima and Vichada.

The official also said that by August or September this year several new offshore E&P licenses will be awarded through the Ronda Caribe process, and another 10 areas declared void will be auctioned again.

Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

RELATED COMPANIES