Colombia’s Gas Potential Boosted by Shale, Offshore

Colombia’s natural gas potential, including onshore, offshore and non-conventional resources, ranges between 14 trillion ft³ and 64 trillion ft³, state Ecopetrol’s president Felipe Bayon said April 10.

“The signing of new contracts offshore Colombia’s Caribbean coast and the intensification of exploration activities onshore coupled with the non-conventional potential combine to constitute important elements to increase natural gas supply in the coming years,” Bayon said.

Estimated resource potential in Colombia’s Llanos region is between 3 trillion ft³ and 10 trillion ft³, and in the coastal Caribbean region between 7 trillion ft³ and 30 trillion ft³, despite the inherent exploration risks offshore, Bayon said. In terms of non-conventional resources, he said the potential in the Middle Magdalena Valle, Cesar-Rancheria and Catatumbo regions is between 4 trillion ft³ and 24 trillion ft³.

Colombia, following initiatives outlined by the president Ivan Duque, is seeking to secure its energy security in terms of gas and oil reserves and production and is also moving forward with several renewable initiatives.

“The challenge that we have has an industry is to successfully carry out the investigative non-conventional pilots as recommended by a commission of Colombian experts and the country’s general comptroller’s office,” Bayon added.