NG Energy Eyes 20% Share of Colombia Gas Market as Output Rises
- CFO forecasts eight-fold boost in production by next year
- Lower Magdalena field set to come online in first quarter
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NG Energy International Corp. expects an eight-fold boost in its natural gas output in Colombia after a new field begins production next year.
The Toronto-based company sees its gas output rising to 60 million cubic feet a day in the third quarter of 2024 as its Sinu-9 block comes online in the Lower Magdalena basin, according to Chief Financial Officer Jorge Fonseca. NG Energy currently produces 7 million cubic feet a day from its Maria Conchita field, in northern La Guajira province.