At the VIII Oil, Gas and Energy Summit in Cartagena, Pedro Neiva, Colombia general manager for SLB, revealed the country has an average oil recovery factor of 18%, below the global 36%. Neiva stressed improving this metric for energy security. The company, with 87 years in Colombia, advances technologies for the energy transition.
The VIII Oil, Gas and Energy Summit took place in Cartagena, where Pedro Neiva, Colombia general manager for SLB, shared insights on the local oil industry. SLB, present in over 100 countries with employees from more than 180 nationalities, reported revenues of $136.800 million the previous year according to the Superintendence of Societies. Neiva highlighted the company's plant in Soledad, Atlántico, and Colombia's importance to SLB: “Colombia is a central point for us; otherwise, we wouldn't have made investments. The history we have here, the people and Colombian talent we have developed, and the technology we have here, demonstrate the investment we are making”.
Neiva noted that over 600 Colombians work for SLB abroad, developing for executive roles. In July, SLB acquired ChampionX for US$7.000 million worldwide; this firm has more than 300 employees in Colombia and the country is a top international market. At the summit, the recovery factor was discussed: “Colombia is, on average, at 18% recovery factor. That means 82% of the hydrocarbons stay in the reservoir. The world average is 36%”. Increasing this factor by 1%, 2%, or 3% is key for energy security.
With 87 years in Colombia, SLB bases its contributions on two pillars: common sense to ensure energy and a shared energy transition. “We will contribute to traditional elements, reducing the carbon footprint in traditional hydrocarbon operations (oil and gas), but we will also contribute with our technologies to key elements of what is called the energy transition or new energies: technology in geothermal, hydrogen, and carbon capture”.
These initiatives aim to balance traditional exploitation with sustainable innovations, strengthening Colombia's position in the regional energy landscape.