The Colombian municipality of Cumaral in the accomplishment of the activities of exploration and production of hydrocarbons during the consultation that was summoned by the municipal authorities.
For this reason Colombia's petrochemical industry is on alert due to an increase in the number of prior consultations that have impeded exploration and production in the South American country.
Mansarovar Energy, owned by Chinese and Indian investors, was planning to conduct exploration and production activities in the Cumaral area, however, the activity was rejected by the community.
The Colombian Petroleum Association is on alert and it exists for at least 20 prior consultations, which threaten to increase the uncertainty about the investments that private capitals make in Colombia.
"Legal uncertainty is going to lead to exploratory and production activity in Colombia being avenged. There will be no exploration or exploration or continue in a streak of popular consultations," said Francisco José Lloreda, at a press conference of the president of the Colombian Petroleum Association.
Private companies announced investments of $ 5 billion in Colombia's oil sector this year, however, the CPA| believes that this uncertainty causes investors to re-evaluate the projects.
