Colombia Is Preparing For A Fracking Boom ...Middle East

OILPRICE - Economy
Colombia Is Preparing For A Fracking Boom
source : OILPRICE ( Middle East ) () 6
It was roughly a decade ago when hydraulic fracturing, known as fracking, was identified as a crucial means for boosting Colombia’s meager hydrocarbon reserves and production. A shortage of proved crude oil and natural gas reserves along with declining production is threatening Colombia’s economy. Despite only possessing two billion barrels of proved oil reserves with a short six-year production life, Colombia is highly reliant upon petroleum production to drive the economy. During 2020, at the height of the pandemic and oil price crash,…

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