Wedoany.com Report-May 29, Ecopetrol SA, Colombia’s state-owned energy company, plans to continue natural gas exploration in the Caribbean blocks of COL-Um, Purple Angel, and Fuerte Sur, despite Shell Plc’s withdrawal from these areas in April 2025. Shell’s exit, described as a strategic decision, ended its oil and gas exploration in Colombia. Ecopetrol, which co-operates these blocks, will proceed independently or seek a new partner, according to Rafael Guzman, vice president of hydrocarbons.

In an interview from Casanare province, where Ecopetrol’s gas blocks supply half of Colombia’s demand, Guzman stated: “Not only is there a need for gas in Colombia but these are projects that have very good returns.” The company aims to address growing domestic demand and tap into potentially valuable reserves to bolster energy security.

Ecopetrol is focused on developing new gas sources as Colombia’s reserves, reported at 5.9 years of consumption by the end of 2024, continue to decline, necessitating increased imports for households and industries. The company is drilling the Buena Suerte well in the GUA-OFF-0 block alongside Petrobras, with plans to explore the Papayuela prospect next. Further wells in the block may be developed based on initial results. The Sirius-2 well, shared with Petrobras, holds potential to significantly increase Colombia’s gas reserves if proven commercially viable, with first production expected no earlier than 2029.

Petrobras recently indicated interest in acquiring the blocks vacated by Shell, as shared with investors in May 2025. Ecopetrol’s efforts align with the need to maximize existing assets, as no new exploration contracts have been issued since 2022. The company’s strategy supports Colombia’s energy needs while contributing to economic stability through efficient resource development.

Guzman emphasized the importance of these projects for meeting domestic energy demands and ensuring long-term sustainability. By advancing exploration in the Caribbean blocks, Ecopetrol aims to reduce reliance on imports and strengthen the nation’s energy infrastructure, supporting both industrial growth and household energy access.