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Colombia’s proven gas reserves have fallen to 5.9 years of consumption, and imports met 41% of the gas used in October, Mines and Energy Minister María Nohemí Arboleda said at the IX Oil, Gas and Energy Summit in Cartagena.

GeoPark is working through environmental liabilities, contractor selection and logistics at the Bare field in Venezuela’s Orinoco Belt ahead of taking operational control from PDVSA, CEO Felipe Bayón said.

SierraCol Energy reported third-quarter adjusted EBITDAX of US$118.5M, down 42% from the second quarter and 15% from a year earlier, as a lower realized price, a 12% stronger Colombian peso and heavier activity pushed the margin down to 48% from 67%.

Parex Resources has found more gas and light crude at its VIM-1 block in Magdalena department, where a well drilled near the producing La Belleza field tested at 6,600 boe/d, and the company plans a new pipeline for mid-2027 to bring the gas to market.

Colombia’s environmental licensing authority, ANLA, has removed three follow-up requirements for Komodo-1, an offshore oil and gas exploration project on block COL-1 in the Caribbean Sea, run by Occidental with Ecopetrol as partner.

Frank Pearl, executive president of oil and gas association ACP, is asking for stability guarantees of up to 30 years for large, long-horizon projects, and says some fracking contracts are ready to start without pilots.