Ecopetrol Eyes Two Promising Developments

(Energy Analytics Institute, 31.Jan.2021) — Colombia’s state oil and gas company Ecopetrol is eyeing two promising developments in Colombia that could utilize initial lessons learned abroad from offshore Brazil and the US Permian Basin.

The first relates to an offshore development and the second relates to pilot fracking projects. The latter, if approved to move into the development phase, could be a game changer for both company and country.

Ecopetrol — the largest company in Colombia involved in the upstream, downstream, and midstream activities — has struggled in recent years to boost hydrocarbon reserves and production at home due to the country’s limited resource base and not its own efforts.

Expansions abroad in recent years into offshore Brazil, the US Permian, and Mexico have been pursued to achieve reserve and production growth and to gain value experience related to offshore production activities and shale developments.

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.