Ecopetrol S.A. has announced its commitment to maintaining the momentum of gas projects in the Southern Caribbean, following Shell's decision to withdraw from its offshore assets in the region. The Colombian energy giant is actively evaluating strategies to ensure the continued development of these projects, which are deemed crucial for the nation's medium-term gas supply and its broader energy transition strategy.

The projects in question are located within the Col 5, Purple Angel, and Fuerte Sur blocks, and include significant gas discoveries such as Kronos-1, Purple Angel 1, Gorgon 1 and 2, and Glaucus 1. These discoveries hold substantial promise for bolstering Colombia's energy reserves and ensuring a stable supply of natural gas, a fuel considered vital for the country's transition to a lower-carbon energy mix. While Shell's departure is attributed to its global portfolio strategy, a move that reflects the dynamic nature of international energy investments, Ecopetrol emphasizes the technical and economic viability of these projects and their importance to Colombia's energy future. The company views these assets as strategic pillars in its long-term growth plans.

Ecopetrol's focus is on ensuring the ongoing development and maturation of these gas resources. The company aims to complete the maturation of the Gorgon development project, along with addressing socio-environmental considerations, by the first half of 2029. This includes not only the technical aspects of bringing the field into production but also ensuring that the development is carried out in a sustainable and environmentally responsible manner, mitigating potential impacts on the surrounding marine ecosystem and local communities. Production from this project is currently slated to commence between 2031 and 2032. This timeline reflects the complexity of offshore gas development, which involves extensive planning, infrastructure construction, and regulatory approvals. To facilitate the commercialization of gas from Gorgon and meet national demand, Ecopetrol is also assessing options for connecting the project to the National Transportation System. This connection is critical for efficiently delivering the produced gas to consumers across Colombia.

Despite Shell's exit from the Southern Caribbean projects, a move driven by its broader global strategic objectives, Ecopetrol maintains a partnership with Shell and Total Energies in other ventures. The three companies are jointly developing the Gato Do Mato field in Brazil, a project to which Ecopetrol plans to allocate substantial resources in 2025. This ongoing collaboration indicates a more nuanced strategic shift by Shell, reflecting a targeted portfolio adjustment rather than a complete severing of ties with Ecopetrol. It also underscores the complex and interconnected nature of the global energy industry, where companies often collaborate on some projects while divesting from others.