Ecopetrol has approved an investment plan of COP 22–27 trillion ($5.4–$6.7 billion) for 2026, maintaining capital levels similar to those projected for year-end 2025 while prioritizing upstream development and operational efficiencies. Roughly 70% of next year’s budget — about COP 17.2 trillion — will go to exploration, production, refining and transport activities aimed at sustaining […]
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.
Ecopetrol is racing to develop new gas sources as the nation’s dwindling reserves force increased imports to supply homes and factories. President Gustavo Petro’s administration has halted new exploration contracts since taking office in 2022, which means drillers must squeeze value from existing assets.
With Colombia’s reserves of oil and natural gas falling, and President Gustavo Petro refusing to grant new exploration licenses, Ecopetrol is focused on contracts signed before the environmentalist leader took power in 2022. In February, the driller announced it had taken full ownership of the CPO-09 block in the nation’s oil-rich eastern plains, which helped boost reserves.
The company said this month that it now has full ownership of the CPO-09 block in the nation’s oil-rich eastern plains after completing its $452 million acquisition of Repsol SA’s 45 percent stake. That investment’s strategic location near Castilla and Chichimene, among the country’s top five fields, allows the company to benefit from synergies, a top executive said in an interview.
Colombia’s state-owned energy company Ecopetrol and Canadian independent Parex Resources have signed five new agreements to conduct E&P activities in Colombia’s Putumayo and Piedemonte basins, the companies announced on Wednesday. In the Putumayo basin, Parex will acquire a 50% working interest in the Orito, Area Sur, Occidente and Nororiente blocks and assume full operatorship. The company has […]
The company will invest USD 28.5 million in the plant, which will have an output of 800 tonnes of green hydrogen a year, placing it among South America’s largest such facilities.
A Colombian judge ordered Ecopetrol SA and Petroleo Brasileiro SA to halt the drilling of an offshore gas well in the nation’s Caribbean waters after an Indigenous community sought legal protection.
Colombia’s state-controlled oil company Ecopetrol reported a net income for the second quarter that was down by 17.4% compared to the same period of 2023, due to external factors in variable market conditions.
Colombia’s state-owned Ecopetrol sees the country’s offshore gas production coming on line as early as 2029, Bloomberg reported on Tuesday.