Aug 6, 2024
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Brazilian state-run oil firm Petrobras confirmed on Monday a natural gas discovery off Colombia’s coast, an area where it believes it could find enough gas to supply the Andean country and for exports.
The discovery was made during the fourth drilling phase of the deepwater Uchuva-2 well in the Tayrona block, according to Petrobras, which had already found gas at the nearby Uchuva-1 well, drilled in 2022.
“This well adds relevant information for the development of a new area of exploration and production in Colombia, reinforcing the volumetric potential for gas in the region,” the oil giant said in a securities filing.
The Brazilian firm has been expanding into new regions including the Equatorial Margin, Colombia and Africa as oil production in Brazil’s prolific presalt region is set to plateau in coming years.
In March, a Petrobras executive said the promising area off Colombia’s coast could justify a large project to supply natural gas to the country and for exports, noting there could be more gas there than Colombia needs.
Petrobras has a 44.4% stake and operates the asset located 31 km (19 miles) off Colombia’s coast. Local oil firm Ecopetrol ECO.CN owns the other 55.6% stake.
The companies will maintain operations to complete drilling at the Uchuva-2 well and expect to carry out a formation test by the end of 2024, Petrobras said.
In a separate statement, Ecopetrol said the discovery confirms Colombia has an “important” gas area to provide the country with energy security, as it intensifies its work to “consolidate a robust portfolio of offshore projects”.
(Reuters – Reporting by Luana Maria Benedito; Additional reporting by Oliver Griffin; Editing by Gabriel Araujo and Susan Fenton)
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Publish date : 2024-08-06 06:22:00
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