Colombia needs investments in oil exploration and security before it can be considered an oil country, said the president of Pacific Rubiales.
Pacific Rubiales President Jose Francisco Arata expressed concern that certain political circles are incorrectly referring to Colombia as an oil country, Caracol Radio reported Wednesday.
“We are far from that reality,” the oil company president said. “It is good that we have doubled production since the beginning of the year 2000.” Colombian oil reserve levels however are staying at 2 billion barrels, Arata said. To find new reserves, the industry will need considerable investments in oil exploration.
According to Arata, oil-rich regions of Colombia, such as the Meta department, lack sufficient security as well as clear legal rules, particularly with respect to labor. The Pacific Rubiales oil company has “requested an audit from the Ministry of Social Protection in order to establish the country’s labor situation in Colombia.”
It is imperative that the ministry investigate the labor issues in the Meta department, the president said.
