- Ecopetrol (EC, Financial) is assessing strategies to maintain gas project continuity in the Southern Caribbean post-Shell withdrawal.
- Production from the Gorgon project is anticipated to begin between 2031 and 2032.
- Ecopetrol remains aligned with Shell and Total Energies for Brazil's Gato Do Mato field development.
Ecopetrol S.A. (EC) has initiated a joint strategy to ensure the ongoing development of gas projects in the Southern Caribbean after Shell's recent decision to exit its offshore assets in the region. The impacted territories include the Col 5, Purple Angel, and Fuerte Sur blocks, which hold significant gas discoveries such as Kronos-1, Purple Angel 1, and Gorgon 1 and 2.
The Colombian energy giant aims to complete the maturation and socio-environmental evaluation of the Gorgon development project by the first half of 2029, with production scheduled to commence between 2031 and 2032. This timeframe allows Ecopetrol to explore options for connecting with the National Transportation System to commercialize Gorgon's gas, thereby addressing national demand.
Shemain collaborates with Ecopetrol and Total Energies on the Gato Do Mato project in Brazil, where substantial resources are planned for 2025. This enduring partnership reflects a strategic portfolio adjustment rather than a full dissolution of alliances with Shell.
Ecopetrol reaffirms its commitment to the Caribbean projects, emphasizing the development of gas as crucial to the company and Colombia's energy transition. As the largest integrated energy company in Colombia, Ecopetrol maintains significant interests in oil and gas production, energy transmission, and other strategic sectors across the Americas.
