Prospects for Energy Resource Development in Latin America


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In many Latin American countries, governments are seeking to take advantage of abundant energy resources to strengthen economic development. Brazil’s new president, Jair Bolsonaro, has proposed new measures to facilitate investment in the country’s vast offshore oil reserves, including changes to contract terms for pre-salt oil blocks. In Colombia, the government of President Iván Duque has vowed to boost investment in oil exploration. He created a committee of experts that made recommendations on hydraulic fracturing in the country. In Guyana, a series of oil discoveries since 2015 has propelled the country into one of the top 25 oil-reserve holders, with commercial production expected to begin in 2020. Yet, developing energy resources in these countries poses an array of challenges. Regulatory bodies, for example, have to design terms for licensing rounds and effectively manage environmental and social impacts. What are the prospects for developing these resources and what are the key challenges for regulators?

Speakers:
**Décio Oddone, Director-General, National Petroleum, Natural Gas, and Biofuels Agency, Brazil
**Diego Mesa, Vice Minister of Energy, Colombia
**Julie Evans, Environmental and Social Manager, Americas Region, RINA Consulting
**Lenin Balza, Economist, Extractive Sector Initiative, Inter-American Development Bank

Opening Remarks:
**Michael Shifter, President, Inter-American Dialogue

Moderator:
**Lisa Viscidi, Program Director, Energy, Climate Change & Extractive Industries, Inter-American Dialogue

Location

Inter-American Dialogue
1155 15th Street NW, Suite 800
Washington DC 20005

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