In Colombia, the peace agreement reached with the irregular guerrilla FARC, has allowed the exploration of larger areas in the northeast of the country, where important oil resources could be developed in the future. In Mexico, major companies as Shell, feel optimist and have already started investing in several important projects, expecting the oil price to rise next year.
Bolivia is another country where oil exploration activities are intensifying, especially by the state owned company YPFB, which manage the majority of natural gas reserves of the country. This is expected to allow the improvement of the quality of life of an important part of the population, that now live in difficult conditions.
The political conditions of the South American countries are not entirely favorable, however the significant amount of hydrocarbons reserves that exist in this region, many of them not yet exploited, make it possible to visualize that the future of exploration in this sector can improve considerably in the next years.