Colombia’s recent oil boom, which began in about 2003, features the notable achievement of making Colombia one of the few countries in the world to surpass past oil peaks (i.e., maximum historical oil production), a phenomenon that among the western countries only the United States has approached with the shale/tight oil boom. In the 1990s, after the discoveries of Cusiana, Cupiagua (Cazier et al., 1995; Cooper et al., 1995) and other oil fields, Colombia reached a maximum daily production of about 830,000 BOPD in 1999, but soon afterwards started a steep decline. However, after 2003 daily production...

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