Petrobras Plans to Include Colombia's Sirius Offshore Gas Project in 2027–2031 Business Plan

en.Wedoany.com Reported - On September 23, Sylvia Anjos, Exploration and Production Director of Petrobras, said the company is considering including Colombia's Sirius offshore gas project in the production curve of its 2027–2031 business plan, provided the project obtains an environmental license. The business plan is expected to be published later in 2026. The company has not yet approved the development of the Sirius project, and environmental licensing and prior consultation with communities remain conditions for further progress.

The Sirius project is located in Block GUA-OFF-0 in the Colombian Caribbean Sea, with Petrobras International Braspetro B.V. Colombia Branch serving as operator with a 44.44% stake, and Colombia's state oil company Ecopetrol holding 55.56%. Ecopetrol disclosed in July this year that Sirius is currently in the exploration and development technical maturation stage. The project has completed work related to the discovery well Sirius-1 and the appraisal well Sirius-2, and the Sirius-2 appraisal results confirmed original gas in place of more than 6 trillion cubic feet.

According to the development plan previously announced by Petrobras, Sirius is planned to adopt a "subsea-to-shore" development model, with natural gas transported from the subsea production system via pipeline to onshore processing facilities. The project plans to have 4 production wells, with a target output of approximately 13 million cubic meters per day, sustained for about 10 years. Petrobras previously estimated investment of approximately US$1.2 billion in the exploration phase and approximately US$2.9 billion in the production development phase. The above development arrangements remain subject to environmental licensing and relevant approval procedures.

Commercialization preparations for the project have already been advanced. In December 2025, Petrobras and Ecopetrol completed the joint sale of Sirius natural gas, signing a total of 66 conditional definitive contracts with 17 companies, selling all the natural gas volumes offered externally at that time, up to approximately 249 million cubic feet per day. In a document at the end of 2025, Ecopetrol indicated that the project's expected start-up time is around 2030.

The licensing process for the Sirius project is still underway. In April 2026, more than half of the approximately 120 prior community consultations required for the project had been completed; Petrobras stated on this occasion that the company will only make a decision to approve the project after the environmental license is obtained. If it subsequently enters the 2027–2031 business plan, Sirius's production plan will further enter Petrobras's medium-term operational planning system.