The Colombian oil equipment and services industry association Campetrol released its 2025 Oil Sector Balance, covering second-half 2025 performance, full-year close data, and early 2026 figures, with a supplementary analysis of Venezuela’s hydrocarbons industry drawn from a sectoral outreach mission Campetrol conducted in the neighboring country.
Ecopetrol exceeded its own exploration targets in 2025, drilling 16 wells against an original plan of 10 and achieving a success rate that acting president Juan Carlos Hurtado described as the best in the company’s history.
Colombia’s environmental licensing authority ANLA granted Frontera Energy an environmental license to explore the VIM-46 block, an Exploratory Drilling Area located in the municipality of Magangué, Bolívar, in the Lower Magdalena Valley.
The decision to halt the Komodo deepwater well – a joint project between Ecopetrol and Occidental Petroleum in the Colombian Caribbean – did not merely delay an exploration campaign.
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.”
Ecopetrol maintains a sufficiently robust oil and gas exploration portfolio to sustain activity for at least ten more years, extending to 2036, according to Elsa Jaimes, general manager of offshore projects and exploration, speaking at the second Colombian Geological Association Energy Exploration Convention.
Parex Resources will invest more than US$100M in two exploratory wells in Colombia’s Piedemonte Llanero region as part of an alliance with Ecopetrol aimed at discovering oil and gas reserves to address the country’s supply challenges.
Arrow Exploration announced successful completion of the Mateguafa 8 appraisal well at the Tapir Block in Colombia’s Llanos Basin, where the company holds a 50% beneficial interest.
Colombia’s oil and gas drilling activity registered modest growth during 2025, with average drilling rigs reaching 110 units between January and December, representing a 2.8% year-over-year increase according to data from the Colombian Petroleum, Gas and Energy Chamber (Campetrol).
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