Colombia Oil and Gas Exploration and Production Industry Investment Opportunities, Analysis and Forecasts to 2012

SUMMARY

Summary

This profile is the essential source for top-level industry data and information relating to the Exploration & Production industry in Colombia. It provides asset level information relating to the active and planned oil and gas fields and exploration blocks in Colombia. The profiles of the major companies operating in the upstream industry of Colombia are also included in the report. The latest news and deals pertaining to the sector are also provided and analyzed.

Scope

• Updated information relating to all active and planned exploration blocks.
• Provides historical and forecast data and information for all the major operating and planned crude oil and natural gas fields.
• Details operators and equity partners of oil and gas fields and exploration blocks.
• Includes information relating to license round details, start and end dates, acreage, location, and reserves.
• Information on the top companies in the sector including business description, strategic analysis, and financial information.
• Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
• Key mergers and acquisitions, partnerships, private equity investments and IPOs.

Reasons to buy

• Obtain the most up to date information available on exploration licenses and oil and gas fields.
• Identify growth markets and opportunities in the industry.
• Facilitate market analysis and forecasting of future industry trends.
• Facilitate decision making on the basis of strong historic and forecast data data.
• Assess your competitor's exploration and production asset portfolio.
• Understand and respond to your competitors business structure, strategy and prospects.
• Develop strategies based on the latest operational, financial, and regulatory events.
• Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
• Identify and analyze the strengths and weaknesses of the leading companies in each the country.

TABLE OF CONTENTS

1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Introduction 11
2.1 What Is This Report About? 11
2.2 How To Use This Report 11
2.3 Market Definition 11
3 Colombia, Country Snapshot 12
3.1 Colombia, Key Data 12
3.2 Colombia, Exploration And Production Assets Map 13
3.3 Colombia, Crude Oil & Natural Gas Reserves 14
4 Colombia, Crude Oil And Natural Gas Production 16
4.1 Colombia, Historical Crude Oil Production 16
4.2 Colombia, Historical Natural Gas Production 17
4.3 Colombia, Crude Oil And Natural Gas Producing Asset Details 18
4.4 Colombia, Crude Oil Production Assets By Area 23
4.5 Colombia, Natural Gas Production Assets By Area 27
4.6 Colombia, Crude Oil Production By Company 28
4.7 Colombia, Natural Gas Production By Company 29
5 Colombia, Crude Oil And Natural Gas Forecasts 30
5.1 Colombia, Forecasted Crude Oil Production 30
5.2 Colombia, Forecasted Crude Oil Production 30
6 Colombia, Exploration Block Details 31
6.1 Colombia, Total Number of Active Exploration Blocks 31
6.2 Colombia, Total Number of Active Exploration Blocks By Company 32
6.3 Colombia, Exploration Blocks Details 34
7 Chevron Corporation 45
7.1 Chevron Corporation, Key Information 45
7.2 Chevron Corporation, Company Overview 45
7.3 Chevron Corporation, Business Description 45
7.3.1 Chevron Corporation, Business Description, Business Overview 45
7.3.2 Chevron Corporation, Business Description, Chemicals 46
7.3.3 Chevron Corporation, Business Description, Downstream Segment 47
7.3.4 Chevron Corporation, Business Description, Others Segment 48
7.3.5 Chevron Corporation, Business Description, Upstream Segment 49
7.3.6 Chevron Corporation, Business Description, Major Products and Services 51
7.4 Chevron Corporation, Value Chain Analysis 53
7.4.1 Chevron Corporation, Value Chain Analysis, Upstream 53
7.4.2 Chevron Corporation, Value Chain Analysis, Midstream 55
7.4.3 Chevron Corporation, Value Chain Analysis, Retail 55
7.4.4 Chevron Corporation, Value Chain Analysis, Power Generation 56
7.4.5 Chevron Corporation, Value Chain Analysis, Transformation 57
7.5 Chevron Corporation, SWOT Analysis 57
7.5.1 Chevron Corporation, SWOT Analysis, Overview 57
7.5.2 Chevron Corporation, SWOT Analysis, Strengths 58
7.5.3 Chevron Corporation, SWOT Analysis, Weaknesses 59
7.5.4 Chevron Corporation, SWOT Analysis, Opportunities 60
7.5.5 Chevron Corporation, SWOT Analysis, Threats 61
7.6 Chevron Corporation, Revenue Analysis 62
7.6.1 Chevron Corporation, Revenue Analysis, Revenue by Segment 62
7.6.2 Chevron Corporation, Revenue Analysis, Revenue by Geography 63
7.7 Chevron Corporation, Financial and Operational Review 64
7.7.1 Chevron Corporation, Financial and Operational Review, Financial Statements 64
7.7.2 Chevron Corporation, Financial and Operational Review, Financial Ratios 65
7.8 Chevron Corporation, Operational Indicators 66
8 Occidental Petroleum Corporation 67
8.1 Occidental Petroleum Corporation, Key Information 67
8.2 Occidental Petroleum Corporation, Company Overview 67
8.3 Occidental Petroleum Corporation, Business Description 67
8.3.1 Occidental Petroleum Corporation, Business Description, Business Overview 67
8.3.2 Occidental Petroleum Corporation, Business Description, Chemical 68
8.3.3 Occidental Petroleum Corporation, Business Description, Oil and Gas 69
8.3.4 Occidental Petroleum Corporation, Business Description, Major Products and Services 71
8.4 Occidental Petroleum Corporation, Value Chain Analysis 72
8.4.1 Occidental Petroleum Corporation, Value Chain Analysis, Upstream 72
8.4.2 Occidental Petroleum Corporation, Value Chain Analysis, Midstream 73
8.5 Occidental Petroleum Corporation, SWOT Analysis 74
8.5.1 Occidental Petroleum Corporation, Overview 74
8.5.2 Occidental Petroleum Corporation, Value Chain Analysis, Strengths 74
8.5.3 Occidental Petroleum Corporation, Value Chain Analysis, Weaknesses 75
8.5.4 Occidental Petroleum Corporation, Value Chain Analysis, Opportunities 75
8.5.5 Occidental Petroleum Corporation, Value Chain Analysis, Threats 76
8.6 Occidental Petroleum Corporation, Revenue Analysis 77
8.6.1 Occidental Petroleum Corporation, Revenue Analysis, Revenue by Segment 77
8.6.2 Occidental Petroleum Corporation, Revenue Analysis, Revenue by Geography 77
8.7 Occidental Petroleum Corporation, Financial and Operational Review 79
8.7.1 Occidental Petroleum Corporation, Financial and Operational Review, Financial Statements 79
8.7.2 Occidental Petroleum Corporation, Financial and Operational Review, Financial Ratios 80
8.8 Occidental Petroleum Corporation, Operational Indicators 81
9 Petroleo Brasileiro S.A. 82
9.1 Petroleo Brasileiro S.A, Key Information 82
9.2 Petroleo Brasileiro S.A, Company Overview 82
9.3 Petroleo Brasileiro S.A, Business Description 82
9.3.1 Petroleo Brasileiro S.A, Business Description, Business Overview 82
9.3.2 Petroleo Brasileiro S.A, Business Description, Distribution 82
9.3.3 Petroleo Brasileiro S.A, Business Description, Exploration and Production 83
9.3.4 Petroleo Brasileiro S.A, Business Description, Gas and Energy 85
9.3.5 Petroleo Brasileiro S.A, Business Description, International 86
9.3.6 Petroleo Brasileiro S.A, Business Description, Supply 87
9.3.7 Petroleo Brasileiro S.A, Business Description, Major Products and Services 89
9.4 Petroleo Brasileiro S.A, Value Chain Analysis 90
9.4.1 Petroleo Brasileiro S.A, Value Chain Analysis, Upstream 90
9.4.2 Petroleo Brasileiro S.A, Value Chain Analysis, Midstream 92
9.4.3 Petroleo Brasileiro S.A, Value Chain Analysis, Downstream 92
9.4.4 Petroleo Brasileiro S.A, Value Chain Analysis, Retail 93
9.5 Petroleo Brasileiro S.A, SWOT Analysis 94
9.5.1 Petroleo Brasileiro S.A, SWOT Analysis, Overview 94
9.5.2 Petroleo Brasileiro S.A, SWOT Analysis, Strengths 94
9.5.3 Petroleo Brasileiro S.A, SWOT Analysis, Weaknesses 95
9.5.4 Petroleo Brasileiro S.A, SWOT Analysis, Opportunities 96
9.5.5 Petroleo Brasileiro S.A, SWOT Analysis, Threats 97
9.6 Petroleo Brasileiro S.A, Revenue Analysis 97
9.6.1 Petroleo Brasileiro S.A, Revenue Analysis, Revenue by Segment 97
9.6.2 Petroleo Brasileiro S.A, Revenue Analysis, Revenue by Geography 98
9.7 Petroleo Brasileiro S.A, Financial and Operational Review 99
9.7.1 Petroleo Brasileiro S.A, Financial and Operational Review, Financial Statements 99
9.7.2 Petroleo Brasileiro S.A, Financial and Operational Review, Financial Ratios 100
9.8 Petroleo Brasileiro S.A, Operational Indicators 101
10 Colombia Exploration and Production Industry, Financial Deals Landscape 102
10.1 Acquisition 102
10.1.1 Osage Exploration and Development Acquires 100% Stake In Cimarrona 102
10.1.2 Texada Capital To Acquire Petropuli 103
10.1.3 Petro Vista Energy To Acquire 90% Issued Capital Of Petropuli 105
10.2 Debt Offerings 107
10.2.1 Petrominerales Completes Private Placement Of $100 Million 107
10.3 Asset Transactions 109
10.3.1 CEPSA To Acquire 70% Interests In Caracara Block From Hupecol Caracara 109
10.3.2 Gold Oil Acquires 20% Interest In Azar Block 111
10.3.3 Suroco Energy To Acquire Oil And Gas Properties In Colombia From Alentar Holdings 112
10.3.4 Cepsa To Farmout Out 25% In Bituima Exploration Block 114
10.3.5 Petro Vista To Acquire 25% Interest in La Maye Block From New Horizon Exploration 116
11 Colombia Exploration and Production Industry, Recent Developments 119
11.1 Government and Public Interest 119
11.1.1 Apr 25, 2008: Colombia's Oil Output Pumps Up In March 119
11.1.2 Apr 02, 2008: Colombia Hopes To Increase Oil Output To One Million Barrels/Day By 2020 119
11.1.3 Mar 01, 2008: Colombia And JamaicaTo Begin Negotiations On Oil, Gas Exploration 120
11.2 Strategy and Business Planning 121
11.2.1 Apr 29, 2008: Colombia, Jamaica To Search For Oil Off San Andres 121
11.2.2 Apr 07, 2008: Emerald Wins Exploration And Production Contract In Colombia 122
11.2.3 Dec 11, 2007: RIL Signs Two E&P Contracts In Offshore Colombia 122
11.3 Operations Updates 123
11.3.1 May 29, 2008: West Canyon Provides Operational Update 123
11.3.2 May 26, 2008: Solana Updates On Primavera-1 Well 124
11.3.3 May 23, 2008: Pacific Rubiales' LCE-1 Well Reaches Target Zone 125
11.3.4 May 14, 2008: Pan Andean Commences 2D Seismic Programme On Antorcha Block, Colombia 126
11.3.5 Apr 30, 2008: Occidental Estimates Gross Output In Colombia To Reach 135,000 Bpd By 2011 127
11.3.6 Apr 29, 2008: Ecopetrol Finds Oil And Gas In Southern Colombia 128
11.3.7 Apr 29, 2008: Black Rock Provides Arrinconada Drilling Update 129
11.3.8 Apr 23, 2008: Osage Announces Operations Update 129
11.3.9 Apr 16, 2008: Maurel & Prom Provides Operational Update 131
11.3.10 Apr 16, 2008: Solana Updates On Costayaco-3 Well 132
11.3.11 Apr 14, 2008: Solana Updates On Palmitas-2 Exploration Well 133
11.3.12 Apr 14, 2008: Global Updates On Boral 1 Exploratory Well 133
11.3.13 Apr 14, 2008: Baraka Updates On Mugello-1 Exploration Well 134
11.3.14 Apr 02, 2008: Loon Updates On Delta-1 Well 134
11.3.15 Mar 24, 2008: Gran Tierra Initiates Testing Of Costayaco-3 And Drilling Of Costayaco-4 135
11.3.16 Mar 18, 2008: Baraka Updates On Monza-1 Well 137
11.3.17 Mar 12, 2008: Maurel & Prom Provides Operational Update 138
11.3.18 Mar 12, 2008: Solana Updates On Primavera-1 Well, Llanos Basin, Colombia 139
11.3.19 Mar 11, 2008: Baraka Updates On Monza-1 Well, Colombia 139
11.3.20 Mar 05, 2008: Solana Suspends Colombian Drilling Operations 140
11.3.21 Mar 04, 2008: Black Rock Updates On Acacia Este 2 Appraisal Well 140
11.3.22 Feb 26, 2008: Baraka Provides Update On Monza-1 Well 141
11.3.23 Feb 25, 2008: Gran Tierra Updates On Costayaco-2 Well 142
11.3.24 Feb 14, 2008: Emerald Updates On Its Colombian Operations 143
11.3.25 Feb 05, 2008: Pacific Rubiales Declares Test Results At La Creciente D-1 Well, Colombia 145
11.3.26 Jan 15, 2008: Gran Tierra Completes Drilling Costayaco-2 Well, Colombia 145
11.3.27 Jan 10, 2008: Amerisur Updates On Platanillo-2 Well 147
11.3.28 Jan 10, 2008: Petrobras Fails To Find Oil At Tayrona Block, Colombia 148
11.3.29 Jan 02, 2008: Pacific Stratus Updates On LCD-1 Well, Colombia 148
11.3.30 Dec 28, 2007: Black Rock Updates On Acacia Este-2 Appraisal Well 148
11.3.31 Dec 18, 2007: Baraka Updates On Monza-1 Well In Chicuaco Block, Colombia 149
11.3.32 Dec 11, 2007: Gran Tierra Initiates Drilling Of Costayaco-2 Well, Colombia 149
11.3.33 Dec 06, 2007: Loon Updates On Kristie #1 Well, Colombia 150
11.4 Financial Announcements 150
11.4.1 Feb 04, 2008: Oil Companies To Invest $7 Billion In Colombia In 2008 150
11.5 Other Significant Developments 151
11.5.1 Dec 11, 2007: Benchmark Enters MoU With ECopetrol 151
12 Appendix 152
12.1 Methodology 152
12.1.1 Coverage 152
12.1.2 Secondary Research 153
12.1.3 Primary Research 153
12.1.4 Forecasts 154
12.2 Key Economic Assumptions 156
12.3 Expert Panel Validation 157
12.4 Definitions 157
12.5 Unit of Measure 158
12.6 Contact Us 159
12.7 About Global Markets Direct 159
12.8 Disclaimer 159

1.1 List of Tables
Table 1: Colombia, Oil and Gas, Key Statistics, April 2008 12
Table 2: Colombia, Total Crude Oil and Natural Gas Reserves(MMBOE), 2000-2012 15
Table 3: Colombia, Total Crude Oil Production (MMBBLs), 2000-2007 16
Table 4: Colombia, Total Natural Gas Production (BCF), 2000-2007 17
Table 5: Colombia, Oil and Gas Assets Details, April 2008 18
Table 6: Colombia, Oil and Gas Assets Details, April 2008 (Cont'd) 19
Table 7: Colombia, Oil and Gas Assets Details, April 2008 (Cont'd) 20
Table 8: Colombia, Oil and Gas Assets Details, April 2008 (Cont'd) 21
Table 9: Colombia, Oil and Gas Assets Details, April 2008 (Cont'd) 22
Table 10: Colombia, Oil and Gas Assets Details, April 2008 (Cont'd) 23
Table 11: Colombia Onshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007 23
Table 12: Colombia Onshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007 (Cont'd) 24
Table 13: Colombia Onshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007 (Cont'd) 25
Table 14: Colombia Onshore, Total Crude Oil Production (Barrels), by Assets, 2000-2007 (Cont'd) 26
Table 15: Colombia Onshore, Total Natural Gas Production (MMCF), by Assets, 2000-2007 27
Table 16: Colombia, Total Crude Oil Production (MMBBLs), by Company, 2000-2007 28
Table 17: Colombia, Total Crude Oil Production (MMBBLs), by Company, 2000-2007 (Cont'd) 29
Table 18: Colombia, Total Natural Gas Production (BCF), by Company, 2000- 2007 29
Table 19: Colombia, Total Crude Oil Production (MMBBLs), Forecast, 2008-2013 30
Table 20: Colombia, Total Natural Gas Production (BCF), Forecast, 2008-2013 30
Table 21: Colombia, Total Number of Active Exploration Blocks, 2000-2007 31
Table 22: Colombia, Total Number of Active Exploration Blocks by Company, 2000- 2007 32
Table 23: Colombia, Total Number of Active Exploration Blocks by Company, 2000- 2007 (Cont'd) 33
Table 24: Colombia, Oil and Gas Exploration Blocks Details, April 2008 34
Table 25: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 35
Table 26: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 36
Table 27: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 37
Table 28: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 38
Table 29: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 39
Table 30: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 40
Table 31: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 41
Table 32: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 42
Table 33: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 43
Table 34: Colombia, Oil and Gas Exploration Blocks Details, April 2008 (Cont'd) 44
Table 35: Chevron Corporation,Key Facts, 2007 45
Table 36: Chevron Corporation, SWOT Analysis , 2007 58
Table 37: Chevron Corporation, Revenue by Segment, USD Million, 2003-2007 63
Table 38: Chevron Corporation, Revenue by Geography, USD Million, 2003-2007 63
Table 39: Chevron Corporation, Financial Statements, USD Million, 2003-2007 64
Table 40: Chevron Corporation, Financial Ratios, USD Million, 2003-2007 65
Table 41: Chevron Corporation Operational Indicators, 2003-2007 66
Table 42: Occidental Petroleum Corporation,Key Facts, 2007 67
Table 43: Occidental Petroleum Corporation, SWOT Analysis , 2007 74
Table 44: Occidental Petroleum Corporation, Revenue by Segment, USD Million, 2003-2007 77
Table 45: Occidental Petroleum Corporation, Revenue by Geography, USD Million, 2003-2007 78
Table 46: Occidental Petroleum Corporation, Financial Statements, USD Million, 2003-2007 79
Table 47: Occidental Petroleum Corporation, Financial Ratios, USD Million, 2003-2007 80
Table 48: Occidental Petroleum Corporation Operational Indicators, 2003-2007 81
Table 49: Petroleo Brasileiro S.A.,Key Facts, 2007 82
Table 50: Petroleo Brasileiro S.A., SWOT Analysis , 2007 94
Table 51: Petroleo Brasileiro S.A., Revenue by Segment, USD Million, 2003-2007 98
Table 52: Petroleo Brasileiro S.A., Revenue by Geography, USD Million, 2003-2007 98
Table 53: Petroleo Brasileiro S.A., Financial Statements, USD Million, 2003-2007 99
Table 54: Petroleo Brasileiro S.A., Financial Ratios, USD Million, 2003-2007 100
Table 55: Petroleo Brasileiro S.A. Operational Indicators, 2003-2007 101
Table 56: Brent Blend NYMEX Future Prices 156

1.2 List of Figures
Figure 1: Colombia, Exploration and Production Assets Map, April 2008 13
Figure 2: Colombia, Total Crude Oil and Natural Gas Reserves(MMBOE), 2000-2012 14
Figure 3: Colombia, Total Crude Oil Production (MMBBLs), 2000-2007 16
Figure 4: Colombia, Total Natural Gas Production (BCF), 2000-2007 17
Figure 5: Colombia, Total Number of Active Exploration Blocks, 2000-2007 31
Figure 6: Chevron Corporation, Value Chain Analysis 53
Figure 7: Occidental Petroleum Corporation, Value Chain Analysis 72
Figure 8: Petroleo Brasileiro S.A., Value Chain Analysis 90
Figure 9: Global Markets Direct Methodology 152