Ecopetrol will invest 1,300 million dollars in natural gas projects By EFE

Bogotá, Nov 24 (EFE) .- The Colombian state oil company Ecopetrol (CN 🙂 will invest 1.3 billion dollars in natural gas exploration projects until 2023 in its fields in Colombia and abroad, the company announced on Wednesday.

“The Ecopetrol Group is executing investments of 1,300 million by the year 2023 with the aim of exploring and developing a potential of up to 50 cubic gas therapies (TPC) through projects in the foothills of the plains, the Colombian Caribbean, in the Permian (EE. .UU.), Brazil and in the pilot projects for comprehensive research on unconventional deposits, “the company said in a statement.

Ecopetrol explained that eight wells have been drilled so far this year and extensive tests have begun in those of Mamey-3, Arrecife-1 ST, Bullerengue-3 and Liria YW12, the latter recently discovered and whose initial tests showed that 64 % of its production corresponds to natural gas.

The company added that in 2022 it will have “unprecedented activity” with the drilling of six wells in the foothills of the plains; nine in the Caribbean and one ‘offshore’ well, as well as in unconventional reservoirs.

“In general terms it is a comprehensive strategy of the Ecopetrol Group, which seeks to consolidate energy security by increasing the production and supply of natural gas, the execution of new social gas projects, compliance with the decarbonization plan and a wide diversification of its business portfolio, “added the company.

The president of the Ecopetrol Group, Felipe Bayón, recalled that the company produces 80% of the natural gas consumed in Colombia, while ratifying the commitment to continue investing in the sector to contribute to the country’s energy security.