Tuesday, March 24th, 2026
Gran Tierra Energy (GTE) announced on March 17, 2026 that it has signed an agreement with Ecopetrol to earn a 49% working interest in the Tisquirama block in Colombia’s Middle Magdalena Valley, which contains the Tisquirama and San Roque fields directly adjacent to Gran Tierra’s largest producing asset, Acordionero.
In an exclusive interview with Valora Analitik on March 20, 2026, Imad Mohsen, global president of Canadian independent Parex Resources, offered one of the most unambiguously positive assessments of Colombia’s investment climate heard from a senior oil executive in years — and one that stands in pointed contrast to the alarm being sounded by domestic sector associations over regulatory uncertainty and unpaid government debts.
Against the backdrop of Venezuela’s first LPG shipment to Colombia and a new Campetrol report showing 2025 oil production down 3% and gas output down 17%, Colombian Petroleum Association (ACP) president Frank Pearl issued a pointed call for domestic energy self-reliance.
Two regasification projects at different stages of development — one on the Pacific coast and one on the Caribbean — are moving forward this month, offering the near-term additions to Colombia’s gas import infrastructure as domestic field production continues to decline.
Some readers may think we are ignoring the sector’s most important news: the Iran War and its impact on oil prices. Instead, we worry about reporting things you already know, especially those that are widely reported global stories. Here we update our price charts for those who use them and try to make relevant Colombia-specific comments on what are rapidly changing events.
Petrobras and Ecopetrol announced on March 18, 2026 the confirmation of a new natural gas discovery in the deep waters of the Colombian Caribbean, with the drilling of the exploratory well Copoazú-1 in Block GUA-OFF-0. The companies stated that “the discovery consolidates the gas province and the hydrocarbon potential in this area, while adding a greater volume of gas to contribute to the country’s energy security.”
Energy and Mines Minister Edwin Palma has acknowledged that cheap Venezuelan gas imports could fundamentally alter the economics of Colombia’s domestic supply plans – potentially undermining the commercial rationale for the offshore Sirius project and curtailing the market for regasification infrastructure.
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