Brazilian oil company Petrobras, which has discovered huge reserves of natural gas in the deep waters of the Colombian Caribbean, plans to partner with other companies that also have important reserves in the region to make Colombia a fuel exporting country.
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“We are working on a plan to develop these reserves to serve the Colombian market and eventually, if we join forces with companies that also have reserves in the region, we will set up a natural gas liquefaction plant and be able to export it anywhere. we want” said the president of the largest Brazilian company, Jean Paul Prates, in an interview for EFE.
The executive said so Petrobras has discovered a field estimated to hold 4 cubic tetrafts (TPC) of natural gas in an area it is exploring in the Caribbean in a concession with Colombia’s Ecopetrol. a volume higher than the current proven reserves of Andean land.
(Read: What it would take for Colombia to import gas from Venezuela in 2024).
He added that other companies such as Ecopetrol itself and multinationals Shell and Occidental Petroleum have discovered important gas reserves in nearby areas and would be interested in creating “hub” export them together.
According to Prates, Resources for the development of these reserves in Colombia were included in the Strategic Plan for the five-year period 2024-2028, which the Brazilian giant announced on Thursday, which foresees investments of 102 billion dollars.
Of that total, $73 billion is allocated to oil and gas exploration and production, but only $1.3 billion to operations in other countries, including those in Colombia.
(You might be interested: What does the United States say about a possible partnership between Ecopetrol and PDVSA?).
“The strategic plan does not go into these details (what would be intended for Colombia), but the truth is that (the investment) is related to the development of the reserve that we have there. After exploration, discovery and start of production, the question is how to monetize this gas outside of the Colombian market? he said.
Ecopetrol.
In his view, the solution is for companies with neighboring reserves to join together to form a consortium for the supply of natural gas and liquefied natural gas. “That may be in future plans,” he said.
Petrobras’ plan to develop the reserves of the so-called Tayrona block was announced three years after the company included its participation in this asset (44%) in the plan to sell the state company under the administration of President Jair Bolsonaro (2019-2022). ).
After the progressive Luiz Inácio Lula da Silva returned to power last January, asset sales were reviewed and Petrobras decided to resume its role as operator of the block located 32 kilometers off the northern coast of Colombia and already has plans to start production in 2026. .
(Also: PDVSA on Clinton’s list and other concerns about possible alliance for Ecopetrol).
Petrobras also wants to take advantage of the Colombian authorities’ decision to develop offshore gas reserves to reduce fuel imports and boost the energy and petrochemical industries.
Prates ruled out that Petrobras’ plans in Colombia could be affected by Colombian President Gustavo Petro’s policy of accelerate the energy transition process.
The Colombian government has already suspended the granting of new oil and gas exploration licenses in the country, so Oil companies operating in Colombia must limit themselves to the development of concessions already granted.
(See also: “It’s possible”: Petro, on a possible partnership between Ecopetrol and PDVSA).
“We found that the president (Petro) is talking a lot about suspending production, but in a certain area, in the Colombian Amazon jungle, where there is an old dispute that is controversial because it has an important ecological reserve and where there are already oil exploration blocks. It seems to me that it is a beloved matter, a cherished matter, but for internal politics.he said.
He added that despite the fact that the president strongly rejects exploitation in this region, where he wants to create a closed zone and in which Petrobras is not interested, “As far as I can remember, he never said anything about offshore mining, and he recognizes that Colombia still needs to extract oil and gas.”.
EFE