DATA SNAPSHOT: Colombia upstream metrics

Colombian state oil company Ecopetrol's announcement that about 80% of its 2017 capex will go to hydrocarbons exploration and production operations may inject new impetus into a pummeled sector.

Latest information from the country's central bank reveals that foreign direct investment in the country's oil sector totaled US$1.28bn in the first half versus US$2.15bn in 1H15.

Figures from local oil association ACP highlight that as of November 1, 13 exploration wells had been spud this year, well below the target of 33 for 2016.

The number of exploration wells drilled last year and in 2014 was 25 and 113, respectively.

Things have fared a bit better on the seismic front, with the equivalent of 33,590km shot, or 89% of this year's goal.

Ecopetrol said it aims to drill 16 exploration wells in 2017 compared to this year's 10, and to spud 500 development wells next year versus 150 in 2016, led by campaigns underway at Castilla, Chichimene and Rubiales.

ALSO READ Ecopetrol reveals 2017 offshore plans

The impact of depressed field activity is evident in crude and natural gas production figures from the mines and energy ministry, with output down again in October after a small rally.

SECURITY

An area of concern for stakeholders is security, as attacks continue on hydrocarbons infrastructure.

Ecopetrol reported an "onslaught" by illegal groups in the past two weeks against oil pipelines Caño Limón-Coveñas and Trasandino, and piping that connects Tibú field wells, with six attacks and the installation of 41 illegal taps.

In October, close to 62,000b were illegally siphoned from Caño Limón-Coveñas and 7,900b stolen from Tibú, said the NOC.