Llanos

Commentary

The LLB remains the country's main producing basin. President de la Espriella, inaugurated in August 2026, has announced the reopening of new exploration contracts, including fracking, reversing the Petro-era halt. Implementation, the higher tax take, legal challenges and security still need to be addressed before confidence fully returns. Outlook: Neutral.

Updated

October 12, 2026

Location

Description

The LLB is situated entirely on the South American Plate, bordering the North Andean Block or North Andean microplate in the west. The northern boundary of the Llanos Basin is formed by the Colombia-Venezuela border where the basin grades into the Barinas-Apure Basin on the Venezuelan side. The Catatumbo Basin, representing the Colombian portion of the larger Maracaibo Basin borders the Llanos Basin in the northwest and the western boundary is formed by the foothills (Piedemonte) of the Eastern Cordillera Basin, the sedimentary basin covering the Eastern Ranges of the Colombian Andes.

Summary

The LLB is the country's main petroleum producing basin, with two of the most significant fields in recent times, namely the Rubiales, and Caño Limón on the border with Venezuela. Despite historic exploration successes, but is still considered underexplored from a modern-day perspective.