Petrobras and Ecopetrol Announce Major Gas Discovery

Petrobras and Ecopetrol have confirmed the largest natural gas discovery in Colombia's history with the Sirius-2 well, revealing over 6 trillion cubic feet (Tcf) of gas, which could potentially double the country's reserves. Drilling began on June 19, 2024, in the Guajira Offshore Basin, at a depth of 803 meters. The consortium plans to invest significantly in the development of this resource, with production expected to start as early as 2027, contingent on commercial viability. However, Colombia faces challenges including declining gas production, security threats from pipeline attacks, and political shifts towards reducing fossil fuel reliance. If successfully developed, the discovery could alleviate domestic supply shortages projected for 2025. The partners are also gathering crucial environmental and geotechnical data to facilitate the planning of production systems.