There are seven strategic reasons to invest in ColombiaThere are seven strategic reasons to invest in Colombia
1. Significant potential for discovery: Ecopetrol estimates that Colombia’s resource potential is equivalent to 47 billion barrels of petroleum. A large portion of the nation’s territory has not yet been explored. The potential for important additional discoveries exists in such locations as Cusiana, Cupiagua, Caño Limón, La Cira-Infantas and Chuchupa-Ballena, fields with proven reserves higher than 1,000 mboe.
2. Recognized economic stability: Colombia offers investors a stable business environment and a solid legal system. Examples include equality for national and foreign investors and free entrance of foreign capital without previous authorization. Colombia has never defaulted on a single dollar or peso of foreign debt, and has a tradition of steady growth, low inflation and orthodox economic management.
3. Excellent geographic location: With coasts on the Atlantic and the Pacific Oceans, Colombia offers easy access to the Gulf of Mexico, the west coast of North America, the East Asian markets and Central and South America.
4. Openness to investment: Colombia encourages and facilitates private investment in the oil and gas sector, through processes of either direct negotiation or in formal licensing rounds.
5. Extensive transportation infrastructure: Colombia offers an extensive transportation network for hydrocarbons and products. The infrastructure is being upgraded and expanded throughout the country. In addition, there are current plans to extend the gas transportation infrastructure to Venezuela and Panama.
6. Attractive investment conditions: Colombia’s new Royalty/Tax contract model is globally competitive.
7. Availability of local qualified technical and professional work force: After 80 years of an active oil and gas industry, Colombia has developed a highly qualified technical and professional work force.