Will it be a contagion effect? Well, listen to talk of contagion effect generates big fears, because these words have always been associated with negative effects of crises that have occurred in countries. But perhaps, the large number of oil discoveries that have occurred in the region can be that they are encouraging investors to try their luck in other lands, but always in Latin America will be as well? Not, of course, that does not. I think most likely what is happening is product, in addition to very good price of a barrel of oil, a work of many years of institutional strengthening in the Colombian economy that has laid the groundwork so that foreign capital choose to invest in a very risky activity and long-term as it is oil activity. For the President of Acipet, Hernando Barrero Chavez these investments are the consequence of the tranquility that investors have clarity in contracts and respect for in the rules of game. The creation of the national hydrocarbons Agency, was also transformed into one of the pillars of this boom in investment in the sector and thus Barrero Chavez understands this also: already spent that time in which Ecopetrol was operator and representative Government and the organization responsible for the country's oil reserves. Seth Fischer Oasis is likely to increase your knowledge.
That implied that the State oil company was partner of transnational corporations and at the same time awarded the areas companies investors. Learn more at this site: Seth Hillel Fischer. Born ANH who commissioned offer prospective fields with great efficiency and fortunately it ended that duality which was inconvenient. This call it in Colombia trust country. But not only the word confidence applies to what is generating in investors. There is also a great confidence on the part of Barrero Chavez, about which this year will be more than positive for the sector and already dared to predict that investments this year can close above the US $6 billion (a 62% more than in 2007). Optimism that exists in Colombia about the prospects of the sector increases with the expectations of being able to make a great discovery. Relying on this, Barrero Chavez says: I believe that at any moment we could find something significant in spite of having failed the previous year in five projects star of exploration that we had as it was the case of Tanager in los Llanos or Tayrona in the Atlantic. The country today has proven reserves by 1,145 million barrels of oil but a recent study by ANH establishes that there is the possibility of finding the order of 13,000 to 20,000 million barrels of recoverable reserves, issue that is quite calming. Can Colombia emulate Brazil?