Sintana Energy Inc (SEUSF)

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Great news for Sintana.

https://www.bnamericas.com/en/news/colombia-moving-as-quickly-as-possible-with-fracking-pilots
Published: Thursday, April 30, 2020

Colombia will publish technical requirements for fracking pilot projects in the coming days as it pushes ahead with plans to kickstart investment in unconventional basins, deputy energy minister Diego Mesa said on Thursday.

The mines and energy ministry will then focus on ratifying environmental regulations, which will pave the way for the country's first shale drilling campaigns.

"I think it's important to move on as quickly as possible with the pilot projects so that we can decide whether we can go commercial," Mesa said during Vostock Capital's Colombia Oil & Gas webinar.

The comments came as updated draft regulations establishing contractual guidelines for fracking pilots were released for public consultation.

The document, in Spanish, can be seen here, and will remain open for public comment until May 7.

ExxonMobil, ConocoPhillips, Parex, Drummond and state-run oil firm Ecopetrol are among companies that have submitted plans for unconventional pilots in the Andean nation.

According to the Colombian Petroleum Association, the projects could eventually produce 450,000b/d and attract US$5bn in annual investments.

Officials had planned to launch the pilots this year after the council of state – Colombia's highest administrative tribunal – excluded them from a moratorium on unconventional drilling.

However BNamericas understands the projects are unlikely to begin before 2021 amid industry-wide investment cuts caused by the COVID-19 pandemic.

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