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The president of Colombia’s oil workers’ union, Unión Sindical Obrera (USO), César Loza Arenas, called on Ecopetrol (NYSE: EC) to step up exploration of oil and gas in the country, warning that the state-owned company cannot wait until “the pot is scraped clean.”

Ecopetrol (NYSE: EC) confirmed that two of its key exploratory wells drilled in the first half of 2025 failed to deliver commercial hydrocarbon results.

The discovery of the Sirius offshore gas field in Colombia’s Caribbean waters has been hailed as a breakthrough for the country’s energy future. With an estimated output of 450mmcfd, about 45% of the national demand, the project promises to provide short-term relief amid growing concerns about domestic gas shortages.

At the closing session of the IV Sustainability Forum hosted by the Colombian Petroleum Association (ACP), a political panel of presidential pre-candidates spotlighted the future of Colombia’s energy sector, with a unified message: the country must reactivate hydrocarbon exploration to ensure energy security and economic stability.

While Latin America’s oil and gas sector surges ahead, Colombia has chosen to sit quietly on the sidelines.

Ecopetrol (NYSE: EC) is pushing ahead with offshore gas exploration in the Caribbean, even after global energy giant Shell (LON: RDSB) withdrew from three key maritime blocks.

Despite holding considerable oil reserves, Latin America is approaching a critical threshold that demands immediate action to secure its energy future.

In 2024, Colombia experienced a sharp decline in oil and gas exploration, raising serious concerns about the country’s long-term energy security.

Ecopetrol (NYSE: EC) has once again postponed the drilling of its ultra-deepwater Komodo well in the Caribbean Sea, citing ongoing restrictions from the National Environmental Licensing Agency (ANLA) that continue to make the project unviable.

Rodrigo Costa, General Manager of Petrobras Colombia, talked about the expectations about the Sirius-2 well.