BOGOTA, April 15 (NNN-PRENSA LATINA) – Colombia is planning to double its oil production in five years to reach the figure of 1.3 million barrels a day, a source said.
The Colombian National Agency of Hydrocarbons (ANH) confirms the report and is optimistic that the target can be met by 2014.
The ANH expects oil extraction to exceed 800 barrels a day for the end of next year and an increase is expected to occur in the gas sector under current growth trends. (One barrel is equivalent to 159 liters)
On the basis of oil production’s figures in March which is 763,000 barrels, the national company ECOPETROL’s officials applauded the energy industry’s prospects in Colombia.
Currently Saudi Arabia produces 9.5 million barrels a day (mb/d)), Russia (9.4 mb/d), Venezuela (3.1 mb/d) and Iran (3.97 mb/d) and they are currently the greatest oil powers in the world. — NNN-PRENSA LATINA
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