International: PetroSantander: Petroleum in Latin America and Colombia in Particular

Speaker Jerry Mathalone
Vice President Exploration and Geosciences PetroSantander Jerry Mathalone is Vice President Exploration and Geosciences of PetroSantander Inc., a privately held oil and gas company with net production of 9000 boepd from operations in Colombia, USA, Romania and Brazil.  He graduated with an MSc Petroleum Geology from Imperial College in London ...

Vice President Exploration and Geosciences
PetroSantander



Jerry Mathalone is Vice President Exploration and Geosciences of PetroSantander Inc., a privately held oil and gas company with net production of 9000 boepd from operations in Colombia, USA, Romania and Brazil



He graduated with an MSc Petroleum Geology from Imperial College in London in 1980 and joined Phillips Petroleum working on West Africa and Norway followed by Charterhouse Petroleum UK and Egypt. Subsequent to their takeover by Petrofina, he worked on UKCS projects for two years before leaving in 1988 to join IPC in Dubai. As chief geologist for IPC, he was responsible for projects in various basins over West Africa, the Middle and Far East. In 1992 he moved to Houston as Exploration Manager for a related company, Eurocan Ventures, in operations and new ventures over most of South America. When the producing assets were sold to PetroSantander in 1995, he moved there and has worked on their existing fields in the Americas and Europe and new ventures elsewhere. 



Full Description

Latin America has been producing oil for over 100 years and has produced over 150 billion barrels in that time. Currently production is 10.6 million bopd and 20 bcfgpd. After an introductory geological setting of the region, a very brief history of each country's production will be presented emphasizing the complicated relationship between IOCs and the large NOCs in the region. In addition, the sometimes dramatic positive and negative production consequences of government policies will be reviewed as a backdrop to the current situation.  

Some countries have enjoyed a more stable fiscal environment than others, and Colombia, in particular has been producing oil for almost a century with an unbroken record of contract stability. Colombia has 8% of the regions oil production and less than 4% of the non-tar reserves. It produced around 720 mbopd and 1.1 bcfgd during 2010. The country has embarked on a set of policies to attract international oil companies and been rewarded with large numbers of concession awards and a high level of industry activity across the board. In addition, the recently privatized ex-state oil company, Ecopetrol, held a number of marginal field rounds and direct negotiations with IOCs over existing old fields which will be reviewed. These marginal field contracts after a rocky start have resulted in large increases of production in some very old fields but not in others. 

Colombia has a large number of quite differing types of basin from the little explored Pacific fore-arc basins to the prolific sub-Andean basins such as the Llanos Basin. In spite of many surface hydrocarbon indications, only three of these basins contain substantial petroleum discoveries. All these basins remain of interest for exploration, with as one would expect, the more mature regions containing mostly lower but still profitable potential.

View photos from the event online.

Organizer Philippe Mitterrand

When?

Thu, Apr. 21, 2011
11:30 a.m. - 1 p.m. US/Central

How Much?

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Where?

Petroleum Club
800 Bell St., 43rd Floor
Houston, TX 77002

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