Colombia Is Fast Becoming An Oil Giant In Latin America

Law360, New York (December 14, 2012, 4:17 PM EST) -- Colombia today is one of the most promising exploration and production (E&P) investment markets in the world. As the fourth-largest crude oil producer in Latin America after Venezuela, Brazil and Mexico, Colombia accounted for two billion barrels of proven crude oil reserves in 2012, equivalent to almost seven years of output.

Colombia's oil production has increased since 2008 due to increasing exploration and development. In 2011, 34 different operators were conducting oil exploration in Colombia. The exploration area within the country rose to more than 100...
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