The Oil and Gas Industry in Colombia

oil and gasThe oil and gas industry in Colombia has seen a significant increase after a series of reforms in regulations, making the sector even more feasible for foreign investment. Because of this, this aspect of the industry makes it very attractive for business enthusiasts to engage in an investment venture. The initiatives of this include the possibility of foreign investors and companies to have 100% of their oil and gas business ventures, and thus introducing a much slower rate for various projects depending on a per-field basis.

With a lot of the biggest deposits found in Latin America, as well as the vast improvements that are being made to the security situation of the country, the reforms have also sparked interest in the upstream gas and oil sector in Colombia with development drilling and exploratory levels. These programs have often resulted to a steady increase in the reserves of the country, as well as the production during the last few years.

As a move towards the aim of attracting foreign investment to the industry, a 20% flat rate was replaced with a specific sliding scale ranging from 8% to a max of 25%. On top of that, the rate is also applied according to a per-field basis. All of these promising numbers calls to attention the need to be much updated with the ins and outs of the oil and gas industry. This can only be done if you register with Hydrocarbons Colombia. There are a lot of advantages in signing up for the services. For one, the website specializes in the updates in the industry. Any changes should be brought to your attention so that you will not have a difficult time in making decisions regarding the use of your money for investment.

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