Date

04 de April 2013

International business leaders will meet in Cartagena, to learn about investment opportunities in Bogota

hydrocarbons
Oil Gas
  • Invest in Bogota will attend the 3rd Annual "Colombia Oil & Gas Summit and Exhibition", an initiative from British CWC, jointly with the Ministry of Mines and Energy and the National Hydrocarbons Agency (ANH). 

  • Although exploration and production operations are conducted elsewhere, Bogota is where companies base their headquarters in Colombia, generate business and  plan their activities 

  • Bogota is positioned as a South American hub for services related to the oil and gas industry, on account of the dynamics of the hydrocarbon sector, as well as the encouraging business environment in the country. 

International business leaders will meet in Cartagena, to learn about investment opportunities in Bogota

The Colombia Oil & Gas Summit and Exhibition is an initiative from British group CWC, jointly with the Ministry of Mines and Energy and the National Hydrocarbons Agency (ANH).

The success from the previous two editions in summoning key stakeholders in the region have made it possible to host the third consecutive edition of this event.  The Summit will receive over 70 presenters and more than 1500 international participants from more than 25 countries. For more information, please visit: www.cwccolombia.com

Juan Gabriel Perez, Executive Director of Invest in Bogota, stated: "The investment promotion agency for Bogota will share with industry leaders the reasons why Bogota is increasingly becoming the new regional and continental value added hub for the hydrocarbons services industry".  

Perez continues: "Although exploration and production operations are conducted elsewhere, Bogota is where companies base their headquarters in Colombia, do business and is the place where they plan their activities from. The capital city concentrates the companies with greater value-added services including seismic, geophysics and geological surveys, artificial lifting, secondary recovery, directional and horizontal drilling services, research and development in chemical products for drilling fluids and new technologies for the discovery and exploitation of non-conventional hydrocarbons".

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"Bogota is positioned as a South American hub for services related to the oil and gas industry, on account of the dynamics of the hydrocarbon sector, as well as the encouraging business environment in the country.  The capital region is very interesting for services operations, because:  (i) the country boasts a strong institutional support for this sector; (ii) exploration and production activities, as well as the arrival of new operators has fostered the establishment of service providers for the oil & gas industry; (iii) Bogota and Cundinamarca have a base of skilled personnel with experience in this industry; (iv) the cost-benefit ratio in terms of wages and infrastructure is one of the most competitive in the region; (v) it is close and has access to the main oil markets in the region". 

The oil and gas services industry in Colombia has grown on average 31% annually in recent years, reaching revenues close to US$ 4.8 billion in 2011. There are approximately 180 oil and gas companies in the country, and 93% of all national sales are made from Bogota. 

The main global companies providing services to this industry are setting up base in Bogota and Cundinamarca, coming from the United States, Canada, Venezuela and Brazil.  Multinationals such as Schlumberger, Wood Group, Halliburton, Baker Hughes, Weatherford and Foster Wheeler, among others, already run their operations from the capital region.


What investors are saying.

Leonardo Brkusic – Executive Director, Grupo Argentino de Proveedores Petroleros –GAPP- (Hydrocarbon services)
Bogota serves as a base for the companies' local headquarters, and is therefore a place we need to be in and work from on a daily basis. Secondly, its strategic location amid Colombia's most important oil fields, be they in Neiva (South), Bucaramanga (North) or the plain lands (East), make the city very attractive to us. Bogota's industrial capacity is also worthy of note, from the standpoint of establishing subsidiary companies or strategic partnerships with other industrial companies in the Region.