The National Government does not close the doors to new oil and gas exploration and production contracts in Colombia for next year. This was stated by the Minister of Finance, José Antonio Ocampo, in the presentation of the update of the Financial Plan 2023.
(Ministry presented the update of the 2023 Financial Plan).
During the round of questions, the minister was emphatic that from the Government “we are not closed” to the possibility of signing new contracts, adding that next year “We are going to see the complete result of all these contracts already signed, which is the issue that the Ministry of Mines and Energy has done”.
In the presentation of the plan, the Ministry of Finance estimates that in 2022 the Gross Domestic Product (GDP) of Colombia will be 8.2 percent, while next year economic growth would only be 1.3 percent. As for inflation, it would stand at 12.2 percent this year and drop to 7.2 percent in 2023.
(Government projects inflation of 7.2% and growth of 1.3% for 2023).
The minister stressed that, although the growth figure is low for next year, Colombia will continue to be the leading country in economic recovery after the pandemic. “It is a favorable level of economy that should also be reflected in terms of employment”he added.
Government projections are also made taking into account that the price of oil would be, on average, 94.2 dollars, compared to the 100 dollars expected for this year. Against the dollar, it is expected to be between 4,700 and 4,800 pesos.
(Government studies signing new oil exploration contracts).
Ocampo’s statement comes as the government advances plans to promote the energy transition and has raised the possibility of analyzing current oil and gas contracts.
BRIEFCASE
