Petrobras and Shell want to invest in Colombia’s offshore gas fields, says Ecopetrol CEO Ricardo Roa.
Recent finds in deep water show lots of gas, enough to make Colombia an exporter. Both firms have shown keen interest, Roa stated in a chat.
“We’ve told the market that new and current players are welcome in these areas,” Roa told Bloomberg. “The interest to join is high.”
Gas production from these finds could start by 2027. It might cover domestic use and allow for exports, added Roa. Ecopetrol is seeking partners to help fund these projects.
Petrobras and Shell did not give immediate comments.
President Gustavo Petro of Colombia has stopped new oil and gas licenses. This aims to lessen the country’s fossil fuel use.
So, companies must work on the existing 11 offshore areas.
Roa also said Ecopetrol aims to restart abandoned onshore areas. This could increase Colombia’s total output.
Ecopetrol also plans to boost its renewable energy production. They aim to add 900 megawatts by 2025 in addition to the existing 1,300 megawatts.
Roa mentioned that taking over failed wind farm projects in Colombia is one option.
Enel, an Italian firm, has paused its Windpeshi project due to local issues and plans to sell it.
Background
Colombia has a long history in the oil and gas sector. However, recent discoveries suggest a shift towards becoming a key gas player.
Ecopetrol, the national oil company, has spearheaded many of these explorations. The company aims to diversify Colombia’s energy sources and bolster the economy.
The involvement of Petrobras and Shell signals a significant development. These firms bring technical expertise and financial muscle.
Their interest also adds credibility to Colombia’s emerging gas market. This move may strengthen Colombia’s position in the global energy landscape.
More: Colombia news in English, every day from The Rio Times.
Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossier
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error