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Colombia eyes natural gas to boost reserves

Friday, October 17, 2014

Colombia is looking to natural gas and fracking as a means to increase its energy reserves and preserve the dominance of its hydrocarbon sector in the economy.

If production stays roughly around its current rate at about 1 million barrels per day, Colombia is set to run out of oil reserves in little over six years.

The industry and government have both been pursuing natural gas reserves and fracking as a means to sustain energy production and the exports, taxes, international exchange and foreign investment that it brings.

Source: Colombia Reports