Colombia Appears Offshore To Revitalize Its Oil Sector

Soon after an extremely hard 2020 and weak start to 2021 for Colombia’s oil industry, the country’s power ministry is betting on an offshore oil exploration growth to revive the economically critical hydrocarbon sector’s fortunes. A deficiency of major hydrocarbon discoveries for more than two-many years, coupled with a absence of proved petroleum reserves, are weighing greatly on Colombia’s financial state.

All those challenges are exacerbated by an rising domestic protection disaster, heightened political turmoil, nationwide anti-government protests and a near failed peace deal with Colombia’s major guerilla team the FARC. By bolstering petroleum exploration off Colombia’s Caribbean coastline,

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