Gators12
4 weeks ago
Encouragingly, Colombia has shown clear signs of additional natural gas potential across both its onshore and offshore basins in recent years, signaling a promising trajectory for future exploration and development endeavors. Onshore, operating companies have continued to report gas discoveries in the Lower and Middle Magdalena Valley, Llanos, and Putumayo basins, while the increase in GOR continues to be an opportunity to improve domestic gas production in mature fields and basins.
Offshore, the ongoing discoveries made by Ecopetrol, Shell, and Petrobras (Gorgon, Glaucus, Uchuva, and Orca) continue to give indications of the potential for developing new offshore natural gas reserves in Colombia. Likewise, exploratory plans in ultra-deep waters by Oxy, Chevron, and Ecopetrol (Komodo and Cumbia) add to the high potential that the Caribbean represents for Colombia’s energy sufficiency. This potential is so clear that at the CERAWeek Energy Conference in Houston, Joelson Mendes, Petrobras’ chief exploration and production officer, told Reuters that “there could be more gas than what Colombia needs.”
energybuyer
1 month ago
Oil prices are also likely to remain supported by a growing geopolitical risk premium driven by conflict in the Middle East, said ActivTrades analyst Ricardo Evangelista.
Israeli forces pounded areas in the central Gaza Strip overnight, while tanks deepened their advance into Rafah in the south.
However, expectations of an inventories build appear to be overshadowing fears of escalating geopolitical stress for now, said Priyanka Sachdeva, senior market analyst at Phillip Nova.
Gators12
1 month ago
Encouragingly, Colombia has shown clear signs of additional natural gas potential across both its onshore and offshore basins in recent years, signaling a promising trajectory for future exploration and development endeavors. Onshore, operating companies have continued to report gas discoveries in the Lower and Middle Magdalena Valley, Llanos, and Putumayo basins, while the increase in GOR continues to be an opportunity to improve domestic gas production in mature fields and basins.
energybuyer
1 month ago
(Reuters) - Colombia will launch plans in September to develop the production and use of hydrogen as a long-term clean energy source, the Minister of Mines and Energy said on Tuesday, while voicing hope this year's oil and gas auction will be successful.
The South American country will publish a road map to establish over the next 30 years the production, use and export of hydrogen as a clean energy source for use in transport and industry, among other sectors, Diego Mesa told Reuters in an interview.
energybuyer
2 months ago
Colombian President Gustavo Petro has made bold commitments to combat climate change by halting new drilling licenses in country and moving away from oil and gas in favor of green alternatives—a stance that would seem in opposition to the push to eke out oil from existing contracts.
But according to Camacho, "Increasing the number of contracts does not necessarily lead to more exploration," Camacho stated in Bogotá, highlighting the policy to boost exploration within current agreements. Nevertheless, if successful, it will lead to more output for the country that already has oil and coal accounting for half of its total exports.
energybuyer
2 months ago
Despite a bold climate stance, Colombia is looking to increase its oil production to 1 million barrels per day by encouraging drillers to ramp up activity in underutilized exploration blocks, according to the country's energy ministry.
Energy Minister Andrés Camacho emphasized the government's strategy to revitalize "lazy contracts"—agreements signed 10 to 15 years ago that have so far seen minimal exploration efforts. Camacho believes this approach can elevate production to approximately 800,000 bpd by year-end, a rise from the Q1 average of 774,000 bpd
Gators12
2 months ago
Colombia's Empresas Públicas de Medellín (EPM) is seeking joint venture partners to produce green hydrogen for export markets in Europe and Asia, according to CEO John Maya.
The company is aiming to produce 100t/y of green hydrogen in the short term and 400t/y within three years. The energy vector would be stored in ammonia via a chemical process before being extracted through heating.
"We hope to sign a deal for the production of ammonia by the end of the year," said Maya. "It would be exported to countries with hydrogen needs, such as Germany, the Netherlands, Korea and Japan."
Speaking during the company's quarterly assembly, Maya affirmed that EPM could "almost triple" its revenue through hydrogen exports by 2030.
To jumpstart the process, the company began operating a pilot plant at its Aguas Claras water treatment facility in Bello, near Medellín, in February. The plant required an investment of US$5mn and is currently producing around 5kg of green hydrogen per day, according to EPM.
"We’re learning a lot and we plan to undertake many experiments using this plant," Maya said. "One of them is to test the combination of hydrogen with natural gas for household use.
"It's difficult at the moment because the costs are currently high. But technology evolves and eventually these costs will come down."
Gators12
2 months ago
Investment in the first stage – including the regasification terminal and power plant – is expected to reach US$350mn.
The project also includes a gas pipeline component that would serve industrial and thermoelectric offtakers in Cali and its surrounding metropolitan area, as well as other consumer markets in southwestern Colombia.
"In the first phase, gas will be supplied via virtual pipeline, or truck, while the pipeline becomes operational," Tenorio said. "There are several alternatives, including the option of building a new pipeline or utilizing an existing polyduct belonging to [state oil company Ecopetrol’s midstream unit] Cenit."
Gators12
2 months ago
Colombia's Andes Energy is in talks with potential partners to move forward with an LNG import terminal and an associated thermoelectric power plant, the company's chairman told BNamericas.
The Cali-based developer has completed the project's initial design stage and hopes to secure another stakeholder in the coming months, Manuel Tenorio, who is also Andes Energy's co-founder, said in a telephone interview on Friday.
"We are having conversations with two potential strategic partners," Tenorio said, adding that he could not reveal the names of the parties due to confidentiality agreements.