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Platino’s exploration assets are located in Colombia, one of South America’s most stable and fiscally attractive jurisdictions. Colombia has been focused on attracting foreign investment to its energy sector through various initiatives in the last ten years, including:
After a period of decline from a peak of ~800k bbl/d of oil production in the 1990’s to ~525k bbl/d of oil production in 2005, the government’s steps to revive the oil industry have resulted in a significant increase in oil production. The Colombian government is close to attaining its goal of 1 MM bbl/d of oil production, a significant milestone entrenching Colombia as a meaningful global oil producer.
Colombia offers key access to global energy markets and favorable realized crude pricing at Vasconia.
The continued development of the energy industry in Colombia as well as macroeconomic dynamics provide several advantages to operating in Colombia, including:
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