Services for the Oil and Gas Industries


In recent years Bogota has positioned itself as an important hub for services for the oil and gas industry thanks to increasing exploration and production activity in Colombia and an attractive business environment.


What investors are saying

"Colombia has one of the fastest growing petroleum sectors in the world today. Colombia and Bogota are rich in natural resources, have a stabilized a government providing a safe environment to do business, have attractive foreign investment regimes, and have a highly educated workforce. Like many other Canadian companies, Calmena has recognized the potential opportunities in the Colombian Oil & Gas sector and is investing substantial amounts of Capital in order to bring Canadian Drilling and Completions technologies to Colombia. We see the next 2-3 years as being very crucial in building a strong foundation to support the long term Oil & Gas production capabilities that Colombia can and will supply.”
Andrew Jones, Country Manager, Calmena Energy Services Inc, Colombia


Why locate in Bogota?
 

• Because exploration and production activities and the arrival of new companies have stimulated demand for services
• Because strong economic performance, stable policies and significant institutional support for the oil and gas sector have generated a favorable environment for new investors
• Because Bogota has skilled, experienced personnel for this industry
• Because the cost-benefit ratio with regards to salaries and infrastructure is one of the most competitive of the region
• Because Bogota has positioned itself as a regional hub for northern South America, Central America and the Caribbean

A Dynamic Industry

The oil and gas services industry in Colombia has grown by an average of 31% annually in the last five years, reaching sales of more than US$3.7 billion.
 

Bogota is positioning itself as the main center for this industry in northern South America.
 

• There are approximately 126 oil & gas services companies operating in Colombia, according to Superintendencia de Sociedades
• Bogota and its region have 94% of the oil & gas companies operating in Colombia

Increasing exploration and production activity has stimulated the oil and gas service industry.

• Colombia has a total of 2,400 million barrels in certified petroleum reserves and a potential of 54,600 million barrels in areas that have yet to be explored
• The petroleum production in 2010 reached 903 thousand barrels daily; the goal for 2020 is to reach 1,700 thousand barrels of oil equivalents per day
• 205 new E&P contracts will be signed during the next 4 years, 15 of them will be not conventional contracts

Colombia offers an attractive environment for the industry
 

Colombia offers one of the most attractive and stable environments in the region for exploration and production companies, as well as for service companies:

• Competitive government take (45 to 75%)
• Tiered royalties for operators (8 to 25%)
• Income tax deductions of 30% of the value of the investment in fixed productive assets
• Legal stability contracts

Main Multinational Companies Present in Colombia
 

Invest in Bogota has extensive knowledge of this sector. The following document provides additional information.

	1. View full mode:   2. Download Or Print Bogota, Services for the Oil & Gas Industry in Bogota - Invest in Bogota - 2011
	1. View full mode: 2. Download Or Print Bogota, Oil & Gas Services Hub for the Northern Cone of South America 2011

If you require greater detail, please contact any of the agency Investment Officials in charge.


Events:

Invest in Bogota continues positioning Bogota as a new hub for services for the oil and gas industry. Our agency supports the industry and looks forward to networking opportunities in our participation in the following 2011 events:

• Offshore Technology Conference (OTC). Houston, USA. May 2nd through 5th, 2011. http://www.otcnet.org/
• 3rd Conference, Exhibition and Business Meeting of the Oil Sector in North and Northeast Brazil. Manaus, Brazil, July 14th through 15th 2011. http://redepetrobrasil.org.br/2010/12/petronor-2011/#eng
• Foro de Innovación en los Sectores de la Minería y la Energía. Bogota, Colombia, July 26, 2011.  http://foroingenieria.uniandes.edu.co/index.php?option=com_content&view=article&id=7&Itemid=1
• Heavy Oil Latin America Congress (HOLA). Bogota, Colombia, August 2nd through 4th 2011. http://heavyoillatinamerica.com/
• Argentina Oil & Gas Expo 2011. Buenos Aires, Argentina. October 10th through 13th, 2011. http://www.aog.com.ar/
• International Petroleum Conference & Exhibition. Bogota, Colombia, November 22nd through 25th, 2011. http://www.acipet.com/