The good, the bad, the ugly

Latin America Region

American Association of Petroleum Geologists (AAPG)
Enrique Velasquez
Enrique Velasquez

Latin America’s current story of exploration, development and potential may be the best known among all parts of the globe – and not just because AAPG recently held its successful international conference in Rio de Janeiro.

Practically, it’s a tale of two countries.

First, the good news: Brazil’s pre-salt discoveries, industry developments and enormous potential have been headline grabbers for the past two years, and no signs of letting up can be found.

“The ‘state’ of the Latin America Region is very active in Brazil because of the pre-salt discoveries,” Velasquez said, “with high exploration activity in Colombia since numerous contracts were signed in the past years.

The rest of the story?

“In the remaining countries of the Region activity is pretty low,” he said, “with minor activities in Peru, Ecuador, Bolivia and Argentina.”

Exploration, then is “healthy in a couple of countries, and troubled in the rest of the region.”

Velasquez expects activity in Brazil and Colombia to increase in 2010, including development of the Brazilian discoveries that have dominated news stories for the past few years.

He hopes that the Region will be able to overcome the “biggest challenge,” which is a lack of activity in all but Brazil, Colombia and, to a smaller extent, Peru.

“I would like to see major changes in contractual and fiscal terms for exploration in countries like Ecuador, Argentina, Bolivia and Venezuela that allows an increase in exploration activity and in demand for professionals in these countries,” Velasquez said.

In the meantime, keep watching for stories with either a Rio de Janeiro or Bogota dateline. The news there in 2010 should be good.

Comments (0)

 

What Can I Do?

Add Item

Enter Notes:
 
* You must be logged in to name and customize your collection.
Recommend Recommend
Printable Version Printable Version Email to a friend Email to a friend

Emphasis: International

Explorer Emphasis Article Exploration trainees to generate prospects Aberdeen ‘exploHub’ Teaches by ‘Doing’ Aberdeen ‘exploHub’ Teaches by ‘Doing’ Desktop /Portals/0/PackFlashItemImages/WebReady/hurst-andrew.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 2735
Explorer Emphasis Article The good, the bad, the ugly Africa Region Africa Region Desktop /Portals/0/PackFlashItemImages/WebReady/agbenorto-james-k.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 2742
Explorer Emphasis Article The good, the bad, the ugly European Region European Region Desktop /Portals/0/PackFlashItemImages/WebReady/cook-david.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 2739
Explorer Emphasis Article Europe play in early stages Poland Silurian Shale Ready for Action Poland Silurian Shale Ready for Action Desktop /Portals/0/PackFlashItemImages/WebReady/archibald-larry.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 2740
Explorer Emphasis Article The good, the bad, the ugly Regions Report E&P Triumphs, Challenges Regions Report E&P Triumphs, Challenges Desktop /Portals/0/PackFlashItemImages/WebReady/EXPLORER-cover-2010-02feb-thumb.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 2744
Explorer Emphasis Article What ever happened to ... Some Promise Realized; Others? Not So Much Some Promise Realized; Others? Not So Much Desktop /Portals/0/PackFlashItemImages/WebReady/some-promise-realized-others-not-so-much-2010-02feb-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 2737

See Also: Short Course

Short Course Sequence Stratigraphy: A predictive tool for E&P industry Sequence Stratigraphy: A predictive tool for E&P industry Desktop /Portals/0/PackFlashItemImages/WebReady/sc-ar-sequence-stratigraphy-a-predictive-tool-for-e-p-industry-hero-1.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 33241

See Also: Workshop

Workshop Deepwater and Shelf Reservoirs: Big Data, New Knowledge and Analytics for Enhanced Results Deepwater and Shelf Reservoirs: Big Data, New Knowledge and Analytics for Enhanced Results Desktop /Portals/0/PackFlashItemImages/WebReady/gtw-deepwater-shelf-2016-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 33528

See Also: Explorer Emphasis

Explorer Emphasis Article Tupi: Find of the year Salt Couldn’t Hide Elephant From Explorers Salt Couldn’t Hide Elephant From Explorers Desktop /Portals/0/PackFlashItemImages/WebReady/salt-couldnt-hide-elephant-from-explorers-fig2.gif?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 3303
Explorer Emphasis Article 3-D can be acquisition challenge Key to Successful VSP Is Planning Key to Successful VSP Is Planning Desktop /Portals/0/PackFlashItemImages/WebReady/key-to-successful-vsp-is-planning-2011-09sep-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 2382

See Also: Explorer Regions and Sections

Explorer Regions and Sections West Africa: Land of Opportunity West Africa: Land of Opportunity Desktop /Portals/0/PackFlashItemImages/WebReady/explorer-cover-2015-05may.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 19728