Colombia production is holding a plateau over the past year after a large decline in the last part of 2015 and first half of 2016. August value was 858 kbpd (down 0.04 percent y-o-y). (Click to enlarge) Colombia oil reserves at the end of 2016 were 1.66 Gb (down 16.8 percent from 2 Gb in 2015 which followed a drop from 2.31 Gb in 2014). At the average 2016 production rate of 885 kbpd this gave an R/P of 5.1 years, the lowest for any significant producing country. Most of their production is heavy oil. Ecoptrol, which accounts for more than three quarters of Colombia’s crude and natural gas reserves and output, estimated about 45 percent of their decline was due to the “pronounced fall in oil prices”. Individual field production is reported through the Colombian hydrocarbon agency (ANH), but data is only available to June. The previous decline […]