Colombia's Gas Future After Shell Leaves

Shell decided to stop drilling for oil and gas in Colombia in April. They left three areas called COL-5, Purple Angel, and Fuerte Sur. Shell said this was part of their business plan.

Now Ecopetrol, Colombia's main oil company, will continue the work alone or find a new partner. Rafael Guzman, who works for Ecopetrol, says Colombia really needs more gas and these projects can make good money.

Colombia is running out of gas, so they have to buy more from other countries to power homes and businesses. The president stopped giving out new drilling permits in 2022, so companies must work harder with what they already have.

Ecopetrol has gas areas that provide half of what Colombia needs. They are drilling new wells with Brazil's Petrobras company. The first gas from underwater wells won't come until 2029 at the earliest.

One well called Sirius-2 could triple Colombia's gas supply if it works well. Right now, Colombia only has enough proven gas for about 6 years - the lowest amount since 2007. Oil will last about 7 years.

The companies are currently drilling the Buena Suerte well and plan to drill more wells based on what they find.