Colombia Oil and Gas Report Q1 2012

BMI Industry View ............ ... 6
SWOT Analysis .............. ...... 8
Colombia Oil and Gas SWOT ....................... 8
Global Energy Market Outlook ............9
Table: Global Oil Consumption (000b/d), 2009-2016 .................... 12
Table: Global Oil Production (000b/d), 2009-2016 ..............13
Regional Energy Market Outlook ................ 14
Oil Supply And Demand .................. .. 14
Table: Latin America Oil Consumption (000b/d), 2009-2016 ............ ........ 16
Table: Latin America Oil Production (000b/d), 2009-2016 ............ .. 17
Oil: Downstream ..................18
Table: Latin America Oil Refining Capacity (000b/d), 2009-2016 ..........18
Gas Supply And Demand .................. ....... 19
Table: Latin America Gas Consumption (bcm), 2009-2016 ............ .. 20
Table: Latin America Gas Production (bcm), 2009-2016 ............... 20
Liquefied Natural Gas .................... 21
Table: Latin America LNG Exports (bcm), 2009-2016 ................... 21
Colombia Energy Market Overview ............ 22
Columbia – Upstream Projects Database ..................... 25
Industry Forecast Scenario ............ ..... 26
Oil And Gas Reserves .................... 26
Oil Supply And Demand .................. .. 27
Gas Supply And Demand .................. ....... 29
LNG ....................29
Refining And Oil Products Trade ..................... 30
Revenues/Import Costs .................. ... 30
Table: Colombia Oil And Gas Historical Data And Forecasts ............ ...... 31
Oil And Gas Infrastructure ............ ...... 32
Oil Refineries .................... ..... 32
Table: Refineries In Colombia .................... 32
Service Stations ....................33
Oil Terminals/Ports ....................... 33
Oil Pipelines .................... ...... 33
Gas Pipelines .................... ..... 33
Regional and Country Risk/Reward Ratings ............... 34
Latin America Region .................... 34
Composite Scores ...................... 34
Table: Regional Composite Risk/Reward Ratings .............. ..... 34
Upstream Scores ....................... 35
Table: Regional Upstream Risk/Reward Ratings .............. ...... 35
Downstream Scores .................. .. 36
Table: Regional Downstream Risk/Reward Ratings ............ ... 36
Competitive Landscape ............ .. 37
Table: Key Players – Colombian Oil And Gas Sector ............38
Overview/State Role ....................... 39
Licensing And Regulation ................ ... 39
Government Policy .................. ... 39
Licensing Rounds ...................... 39
International Energy Relations ................... 41
Table: Key Upstream Players ..................... 42
Table: Key Downstream Players ................ .. 42
Company Monitor ............43
Empresa Colombiana de Petróleos (Ecopetrol) .............. ........ 43
BP Colombia .................. ... 46
Chevron Colombia .................... 48
Occidental de Colombia .................. ... 50
Petrobras Colombia .................. .. 52
TEPMA Colombia (Total) ................ ... 54
ExxonMobil Colombia .................. ...... 56
Talisman Energy – Summary ...................... 57
Repsol YPF – Summary .................. .... 57
Royal Dutch Shell – Summary .................... 58
Gran Tierra Energy – Summary ................ ... 58
CEPSA – Summary .................. ... 58
Perenco – Summary .................. .. 59
Petro Vista Energy – Summary ................... 59
Pacific Rubiales – Summary ....................... 59
Maurel et Prom – Summary ........................ 60
Hocol Colombia – Summary ....................... 61
Petrominerales – Summary ................61
Petrolifera Petroleum – Summary ................ .. 62
Others – Summary .................... 63
Appendix: Oil And Gas Long-Term Forecasts ............ 66
Regional Oil Demand .................... 66
Table: Latin America Long-term Oil Consumption (000b/d), 2014-2021 .......... .. 66
Regional Oil Supply ....................... 67
Table: Latin America Long-term Oil Production (000b/d), 2014-2021 ............. 67
Regional Gas Demand .................. ... 68
Table: Latin America Long-Term Gas Consumption (bcm) 2014-2021 ............. 68
Regional Gas Supply ...................... 69
Table: Latin America – Long-Term Gas Production (bcm), 2014-2021 ............ 69
Methodology And Risks To Forecasts .......... ....... 70
Glossary Of Terms .................... 71
Table: Glossary Of Terms ................ ... 71
Oil And Gas Risk/Reward Ratings Methodology ........ .. 73
Ratings Overview ..................73
Table: BMIs Oil & Gas Business Environment Ratings – Structure ................. 74
Indicators .................... ... 74
Table: BMIs Oil & Gas Upstream Ratings – Methodology ............ .. 74
Table: BMIs Oil & Gas Business Environment Downstream Ratings – Methodology ........ .. 76
BMI Methodology ............78
How We Generate Our Industry Forecasts ..............78
Energy Industry .................. ... 78
Cross checks .................... ...... 79
Sources ........................ 79