Colombian oil and gas E&P investments could increase by 8% in 2025 according to an industry group

Colombia's top industry group warned on Thursday that the country's investment in hydrocarbon exploration and production could increase by 8% to $4.68 billion this year. However, this will not prevent a decline in gas production.

The Colombian Oil and Gas Association, ACP, said that the resources will maintain the current crude oil production levels in the South American country.

According to ACP, the ACP reported that investment in 2017 was $4.33 Billion.

Frank Pearl, ACP's President, said: "Today it takes more investment to produce the same volume of oil due to natural depletion and the complexity of operating environments."

He added, "We are not able to increase gas production or replenish the reserves. This is a double challenge for energy independence."

The ACP estimates that $740 million will be invested in exploration in this year while $3.94 would be spent on production to ensure the country continues to pump between 760,000 and 7770,000 barrels equivalent per day. This is similar the the 772,000 boepd reported in 2024.

It predicted that the gas production would fall to 905 millions cubic feet per day from 959 million last year.

Since assuming office in 2022 President Gustavo Petro, has worked to reduce the dependency of the country on fossil fuels. These fuels are a major contributor to its economy. He also aims to move the country towards solar and renewable energy projects. (Reporting and editing by Julia Symmes Cobb; Luis Jaime Acosta)

(source: Reuters)