Ecopetrol expects to exceed its 2025 goal of drilling 10 oil wells by between 20% and 40%, the company’s executive vice-president of hydrocarbons, Rafael Guzmán, said in statements to Reuters on Thursday.
The company drilled six wells during the first half of the year. They include two successful attempts, Sirius-2 ST2 offshore and Currucutú-1 onshore, and two wells that are under evaluation, Toritos Oeste-1 and Toritos Sur-3.
Guzmán noted that Ecopetrol achieved production of 751,000 bopd during the first half of 2025, exceeding the upper range of its target of 740,000-750,000 bopd by a small margin.
The result is primarily attributable to the performance of the Caño Sur field, contributions from producing assets in the Permian Basin in the US and the acquisition of Repsol’s 45% interest in the CPO-09 block.
Ecopetrol is aiming to seal partnerships within the next 18 months to operate five oil fields and redevelop others, and to bring investment capital under PSAs. Guzmán indicated that Ecopetrol has already received multiple offers to this end.
In Q1 2025, the Ecopetrol board approved raising up to USD 2 billion in additional debt to finance new asset purchases.
Source: theenergyyear.com