Oil production fell in February due to public order

According to the most recent Drilling and Production Report produced by Campetroloil production in Colombia has experienced a notable decrease during the month of February 2024.

According to data recently published by the National Hydrocarbon Agency (ANH)the average daily oil production reached 764.2 thousand barrels, marking a reduction of 1.7% compared to January 2024 and 2.9% compared to December 2023.

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This reduction in production has had a significant impact on the Colombian economywith one million barrels less produced accumulated until February 2024.

The main causes of this are attributed to public order problems in the department of Meta and less activity in the oil sector.

Over the course of this year, drilling activity in Colombia has experienced a downward trend, with a number of equipment that remained at 108 drills in March 2024.

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This figure represents a decrease of 20.6% compared to the same month last year.

drilling drill activity has also recorded a significant decline, indicating a challenging outlook for the sectorr.

Petroleum.

Private File

This means that the fall was 28 teams in total, most of them drilling (16), while in development there were 12 fewer operational machines. Furthermore, in March 2024, natural gas imports saw a notable increase of 61.7% compared to the previous month, reaching a daily average of 375.4 million cubic feet per day (MPCD).

(Also read: President Petro's request to Ecopetrol on the production of clean energy).

This occurs in a context of drought due to El Niño phenomenonin which the import of gas becomes a crucial alternative to guarantee a stable energy supply in the country, according to the sector's goods and services union.

DANIELA MORALES SOLER
Portfolio Journalist