Colombia Offshore Gas Discovery Could Ease Supply Challenge

Colombia's offshore gas discovery has brought new hopes to expand its resources and reduce dependency on energy imports. Petrobras and Ecopetrol's latest find at the Sandia-1 exploratory well in the GUA-OFF-0 block, located in deep waters offshore Colombia, is estimated to produce 470 million cubic feet per day (MMcf/d) for 10 years.

The Sirius project, which contains more than 6 trillion cubic feet of natural gas in place, will equal almost 60% of Colombia's 2025 production. The country's proved reserves stand at 1.717 trillion cubic feet, or 5.9 years of production at current rates.

Colombia has been racing to find new natural gas reserves due to its dependence on imported liquefied natural gas (LNG) and volatile international prices. The Sirius project could reduce the country's reliance on LNG imports and support market needs, attracting additional investment into Colombia's offshore exploration and development.