1 Table Of Contents
1 Table Of Contents 2
1.1 List of Tables 7
1.2 List of Figures 9
2 Colombia Energy Sector 10
2.1 Colombia Energy Sector, Market Overview 10
2.2 Colombia Energy Sector, Crude Oil 10
2.2.1 Colombia Crude Oil, Overview 10
2.2.2 Colombia Crude Oil, Supply and Demand Balance 11
2.2.3 Colombia Crude Oil, Regulatory Structure 16
2.2.4 Colombia Crude Oil, Infrastructure 17
3 Colombia Oil Upstream Investment Environment Benchmarking 18
3.1 Introduction 18
3.2 The Overall Ranking 18
3.3 Upstream Fiscal Attractiveness 19
3.3.1 Maximum Government Take Index 20
3.3.2 Maximum State Participation Index 20
3.3.3 Domestic Market Obligation Index 20
3.4 Oil Sector Performance 21
3.4.1 Exploration Activity 23
3.4.2 Oil Production 24
3.4.3 Oil Reserves 24
3.4.4 Oil Consumption 25
3.4.5 Refining Industry 25
3.5 Economic Performance 25
3.5.1 GDP Growth Index 27
3.5.2 FDI Confidence Index 27
3.5.3 Balance of Trade Index 28
3.6 Socio-Political Performance 28
3.6.1 Democracy Index 30
3.6.2 Governance Index 30
4 Colombia Exploration and Production Sector 31
4.1 Colombia Exploration and Production Sector, Country Snapshot 31
4.1.1 Colombia Exploration and Production Sector, Key Data 31
4.1.2 Colombia Exploration and Production Sector, Crude Oil Assets Map 31
4.2 Colombia Exploration and Production Sector, Gross Crude Oil Production 32
4.2.1 Colombia Exploration and Production Sector, Total Gross Crude Oil-Historical Production 32
4.2.2 Colombia Exploration and Production Sector, Gross Crude Oil Production by Type 33
4.2.3 Colombia Exploration and Production Sector, Gross Crude Oil Production by Assets 34
4.2.4 Colombia Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 36
4.2.5 Colombia Exploration and Production Sector, Market Share of Key Companies based on Gross Equity Weighted Crude Oil Production 37
4.3 Colombia Exploration and Production Sector, Gross Forecasted Production 38
4.3.1 Colombia Exploration and Production Sector, Gross Crude Oil Forecasted Production 38
4.4 Colombia Exploration And Production Sector, Crude Oil Asset Details 41
4.4.1 Colombia Exploration And Production Sector, Active Crude Oil Asset Details 41
4.4.2 Colombia Exploration And Production Sector, Planned Crude Oil Asset Details 44
4.5 Colombia Exploration And Production Sector, Major Oil Discoveries 45
4.5.1 Colombia Exploration And Production Sector, Number of Oil Discoveries, 2005- 2010 45
4.5.2 Colombia Exploration And Production Sector, Oil Discovery Details 46
4.6 Colombia Exploration and Production Sector, Recent Discoveries 49
4.6.1 May 17, 2011: Ecopetrol Announces Oil Discovery At Mito-1 Well In Meta Province, Colombia 49
4.6.2 May 09, 2011: Suroco Energy Encounters Oil At Cohembi-3 Well In Colombia 49
4.6.3 Apr 25, 2011: Ecopetrol Finds Hydrocarbons At Nunda-1 Well In Huila Province 51
4.6.4 Feb 28, 2011: Pacific Rubiales Energy Discovers Gas At Apamate-1X Well In La Creciente Block, Colombia 52
4.6.5 Feb 07, 2011: Ecopetrol Discovers Hydrocarbons At Tinkhana-1 Well In Colombia 53
4.7 Colombia Exploration and Production Sector, Drilling and Production Updates 53
4.7.1 May 11, 2011: InterOil Produces 5,813bopd In April 2011 53
4.7.2 May 09, 2011: Brownstone Energy Puts Canaguay #1 Well On Production In Colombia 54
4.7.3 Apr 29, 2011: Petroamerica Oil Commences Drilling At Las Maracas-2 Exploration Well In Llanos Basin, Colombia 55
4.7.4 Apr 28, 2011: Canacol Energy Provides Production Update 55
4.7.5 Apr 14, 2011: PetroLatina Energy Provides Q1 2011 Production Update 55
5 Colombia Pipeline Sector 57
5.1 Colombia Pipeline Sector, Key Data 57
5.2 Colombia Pipeline Sector, An Overview 57
5.3 Colombia Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies 57
5.4 Colombia Pipeline sector, Petroleum Product Pipeline Companies 58
5.5 Colombia Pipeline Sector, Crude Oil Pipelines 59
5.6 Colombia Pipeline Sector, Petroleum Product Pipelines 61
6 Colombia Refining Sector 63
6.1 Colombia Refining Sector, Key data 63
6.2 Colombia Refining Sector, An Overview 63
6.3 Colombia Refining Sector, Total Refining Capacity 63
6.4 Colombia Refining Sector, Capacity-Wise Market Share by Company 64
6.5 Colombia Refining Sector, Crude Distillation Unit Capacity 65
6.6 Colombia Refining Sector, Fluid Catalytic Cracking Capacity 65
7 Colombia Oil and Chemicals Storage Sector 66
7.1 Colombia Oil and Chemical Storage Sector, Key Data 66
7.2 Colombia Oil and Chemical Storage Sector, An Overview 66
7.2.1 Colombia Oil and Chemicals Storage Sector, Total Storage Capacity 66
7.3 Colombia Oil and Chemical Storage Sector, Capacity-Wise Market Share by Company 67
7.3.1 Colombia Oil and Chemicals Storage Sector, Storage Capacity Share by Area 68
7.4 Oil and Chemicals Storage Sector, Storage Capacity 69
8 Profile of ECOPETROL S.A. 70
8.1 ECOPETROL S.A., Key Information 70
8.2 ECOPETROL S.A., Company Overview 70
8.3 ECOPETROL S.A., Business Description 70
8.3.1 Business Overview 70
8.3.2 Marketing and Supply 71
8.3.3 Refining and Petrochemicals 71
8.3.4 Transportation 72
8.4 ECOPETROL S.A., SWOT Analysis 72
8.4.1 Overview 72
8.4.2 ECOPETROL S.A. Strengths 73
8.4.3 ECOPETROL S.A. Weaknesses 74
8.4.4 ECOPETROL S.A. Opportunities 75
8.4.5 ECOPETROL S.A. Threats 76
9 Profile of Occidental Petroleum Corporation 78
9.1 Occidental Petroleum Corporation, Key Information 78
9.2 Occidental Petroleum Corporation, Company Overview 78
9.3 Occidental Petroleum Corporation, Business Description 78
9.3.1 Business Overview 78
9.3.2 Chemical 79
9.3.3 Midstream, Marketing and Other 80
9.3.4 Oil and Gas 80
9.4 Occidental Petroleum Corporation, SWOT Analysis 82
9.4.1 Overview 82
9.4.2 Occidental Petroleum Corporation Strengths 82
9.4.3 Occidental Petroleum Corporation Weaknesses 83
9.4.4 Occidental Petroleum Corporation Opportunities 84
9.4.5 Occidental Petroleum Corporation Threats 85
10 Profile of Petroleo Brasileiro S.A. 86
10.1 Petroleo Brasileiro S.A., Key Information 86
10.2 Petroleo Brasileiro S.A., Company Overview 86
10.3 Petroleo Brasileiro S.A., Business Description 86
10.3.1 Business Overview 86
10.3.2 Distribution 87
10.3.3 Gas and Power 87
10.3.4 International 88
10.3.5 Refining, Transportation and Marketing 89
10.4 Petroleo Brasileiro S.A., SWOT Analysis 90
10.4.1 Overview 90
10.4.2 Petroleo Brasileiro S.A. Strengths 91
10.4.3 Petroleo Brasileiro S.A. Weaknesses 92
10.4.4 Petroleo Brasileiro S.A. Opportunities 92
10.4.5 Petroleo Brasileiro S.A. Threats 94
11 Financial Deals Landscape 96
11.1 Detailed Deal Summary 96
11.1.1 Acquisition 96
11.1.2 Equity Offerings 102
11.1.3 Debt Offerings 103
11.1.4 Partnerships 103
11.1.5 Asset Transactions 105
12 Recent Developments 117
12.1 License Awards 117
12.1.1 May 18, 2011: InterOil Signs Two New Exploration Blocks In Colombia 117
12.1.2 Apr 20, 2011: Vast Exploration Wins Oil And Gas Block In Colombia 117
12.1.3 Apr 20, 2011: Stetson Oil & Gas Wins Oil And Gas Block In Colombia 118
12.1.4 Apr 08, 2011: Ecopetrol Signs Eight E&P Contracts Resulting From Colombia Round 2010 118
12.2 Strategy and Business Expansion 119
12.2.1 Mar 31, 2011: Ecopetrol And Pacific Rubiales Energy Announce Agreement To Start Pilot Project Of Star Technology 119
12.2.2 Mar 07, 2011: Petroamerica Oil Withdraws From Two Colombian Blocks 120
12.3 Other Significant Developments 120
12.3.1 May 15, 2011: Ecopetrol To Modernize Barrancabermeja Refinery In Colombia 120
12.3.2 May 11, 2011: InterOil Re-Completes Altair-1 Well In Llanos Basin, Colombia 121
12.3.3 May 09, 2011: Petroamerica Oil Announces Balay-2 ST1 Well Test Results Confirming Significance Of Balay Discovery, Llanos Basin, Colombia 121
12.3.4 Apr 19, 2011: Global Energy Plans New 3D Seismic Acquisition At Bolivar Association Contract Area 121
12.3.5 Apr 18, 2011: Loon Energy Updates On Tuqueque-1X Well At Buganviles Block In Upper Magdalena Valley Basin, Colombia 122
12.3.6 Apr 15, 2011: Parex Resources Provides Update On Colombia Operations 122
13 Appendix 125
13.1 Abbreviations 125
13.2 Methodology 125
13.2.1 Coverage 125
13.2.2 Secondary Research 126
13.2.3 Primary Research 126
13.2.4 Expert Panel Validation 126
13.3 Contact Us 127
13.4 Disclaimer 127