— Ecopetrol (55.6% stake) and Petrobras (44.4%, operator) confirmed gas at the exploratory well Copoazú-1, located 36 km offshore in 964 meters of water and just 8 km from the Sirius field — Colombia’s largest gas discovery
— Gas was found beyond the primary target, which the companies called “a discovery of even greater relevance” — though volumes have not yet been disclosed
— The find comes after two dry or sub-commercial wells in the same region and strengthens the case for the Sirius project, which aims to produce 400 million cubic feet per day by 2030 — roughly half of Colombia’s projected national gas output
Ecopetrol and Petrobras confirmed a new offshore gas discovery in Colombia’s Caribbean on March 18, strengthening the emerging gas province around the massive Sirius field. The Copoazú-1 exploratory well, drilled since November 11, found gas presence confirmed through electric logging and fluid sampling.
The Rio Times, the Latin American financial news outlet, examines why this find matters for a country that lost gas self-sufficiency in late 2024 and is now importing LNG to keep the lights on.
What the Ecopetrol Petrobras Gas Discovery Found
Copoazú-1 sits approximately 36 kilometers from the coast at a water depth of 964 meters, within Block GUA-OFF-0 operated by Petrobras. The well is located just eight kilometers from Sirius-1, the original discovery well, and Sirius-2, the delineation well that confirmed over six trillion cubic feet of gas in place — making it Colombia’s largest gas find in history.
Crucially, the companies reported that gas was confirmed “beyond the primary target,” calling it “a discovery of even greater relevance.” Exact volumes have not been disclosed, and the intervals will undergo deeper characterization in coming months.
A Win After Two Misses
The find arrives after a difficult stretch in Colombia’s offshore exploration. The Buena Suerte well, drilled between April and June 2025 at a cost exceeding $70 million, turned up dry. The Papayuela well also produced sub-commercial results.
Each deepwater well in this region costs between $50 million and $150 million, underscoring the high-risk, high-reward nature of offshore campaigns in waters approaching 1,000 meters of depth. Copoazú-1’s success breaks a string of disappointments and validates the geological model that underpins the broader Caribbean gas province.
The Colombian Association of Geologists and Geophysicists of Energy celebrated the result, calling it “the direct result of decades of sustained investment, geocientific analysis, continuity, and confidence in exploratory activity.” The group warned that Colombia must continue committing to exploration and development of new wells to avoid rising gas prices and increasing dependence on foreign suppliers.
The Ecopetrol Petrobras gas partnership in Block GUA-OFF-0 reflects both companies’ strategic bets on Colombia’s Caribbean basin. Petrobras said the exploration aligns with its long-term strategy of “replenishing oil and gas reserves through frontier exploration and partnerships to ensure supply during the energy transition.” Ecopetrol, which holds a 55.6% stake compared to Petrobras‘s 44.4%, has staked much of its growth plan on the offshore Caribbean after President Petro banned new onshore exploration licenses.
Sirius Remains the Main Prize
Copoazú-1 adds volume to a gas province already anchored by the Sirius mega-project, which aims to produce 400 million cubic feet per day starting around 2030. That would represent close to half of Colombia’s projected national gas output, with gas described as over 99% methane — clean enough to cut processing costs significantly.
The consortium estimates $1.2 billion for the exploration phase and $2.9 billion for production development. Domestically produced gas could land up to 40% cheaper than imported LNG, easing power bills and reducing pressure on Colombia’s balance of payments at a time when the country’s trade deficit with China alone reached $12.4 billion in 2024.
But hurdles remain. The project requires approximately 120 prior consultations with indigenous communities in La Guajira and Magdalena before July 2026, and three environmental licenses must be secured before commercial development can proceed. President Petro’s refusal to issue new exploration licenses has limited activity to existing blocks, making each discovery in the current portfolio that much more critical for Colombia’s energy security.