During Colombia’s energy uncertainty, the ultra-deepwater Komodo-1 project emerged as a potential solution to expand the country’s oil and gas reserves. However, Ecopetrol (NYSE: EC) and Anadarko are increasingly pessimistic about the feasibility of exploration and production any time soon.
In 2024, Petrobras (NYSE: PBR) and Ecopetrol (NYSE: EC) confirmed the discovery of the Sirius natural gas deposit in Colombia’s Caribbean, marking the largest find in the last three decades and potentially doubling the country’s gas reserves.
The National Environmental Licensing Authority (ANLA) confirmed that the Komodo-1 gas project, a key initiative for Colombia’s future gas self-sufficiency, is facing delays due to appeals filed against its environmental license.
The Komodo-1 offshore exploration project, a joint initiative by Anadarko (OXY) and Ecopetrol (NYSE: EC), is facing significant hurdles following the issuance of its environmental license by Colombia’s Ministry of Environment and the National Environmental Licensing Authority (ANLA).
Bogotá hosted an event led by Colombia’s Ministry of Energy (MinEnergía) and the Colombian Geological Service to discuss seismic risk management in the mining and energy sectors.
A report by Promigas highlights significant findings in Colombia’s hydrocarbon sector, revealing that offshore reserves could be 20 times greater than onshore reserves.
A report by Promigas has revealed that between 2023 and July 2024, Colombia saw 15 new discoveries of oil and gas projects. Of these, 12 were onshore, while three were located offshore, deep beneath the Caribbean seabed.
The Inspector General Office announced an investigation on Komodo X-1 suspension.
Ecopetrol (NYSE: EC) President Ricardo Roa recently addressed concerns surrounding the Komodo-1 well and its exploration status, countering recent media reports that suggested a permanent halt.
A Colombian tribunal revived the drilling of Uchuva 2, a critical natural gas well, while mandating consultation with Indigenous communities in Taganga, Magdalena, who may be affected by the project.
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