They prepare a rule to extract more resources from the subsoil

They prepare a rule to extract more resources from the subsoil

The nation enlists a standard with which it seeks to lay the foundations in research and analysis to establish with greater precision the geological potential of minerals in the subsoil for their extraction.

(There would be 27,000 million barrels of crude in the subsoil).

It is a draft resolution prepared by the Ministry of Mines and Energy (MME), which is in the comments phase, and whose articles establish the guidelines for the exercise of geological knowledge and mapping activities of the Colombian subsoil, to be used in the different mining-energy initiatives.

The future standard is based on the document ‘Guidelines for the knowledge and geological mapping of the Colombian subsoil, in the cycle of royalties’, which is integrated, and seeks to give greater benefit to the resources that are below the ground and that belong to the nation, and whose task will be in charge of the Colombian Geological Survey (SGC).

In addition, the Directorate of Hydrocarbons and the Directorate of Business Mining of the MME, will accompany the SGC in the implementation and advancement of the actions of the guidelines established in the articles of the future resolution.

For this reason, the geological entity will present from 2023, and in the first ten days of February, of each year, a report with the progress in the studies and analysis of the potential of resources that exist in the subsoil.

In the same report, the SGC must record in a detailed and / or precise manner the progress of each of the monitoring indicators on the geological potential in the subsoil, and which will be the cover letter for new investment in mining-energy projects. .


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