Colombia’s Ecopetrol SA kept adding oil and gas production in the third quarter.


In an earnings call last month, CEO Felipe Bayón cited deepwater gas discoveries in the Caribbean in the Gorgon-2 with partner Shell plc, and another find by subsidiary Hocol SA in Cordoba department. He said this reiterates “Colombia’s potential for gas, the hydrocarbon of the energy transition.”

The country has now identified about 17 Tcf of gas resources, executives said. This would amount to about 10 years of supply.

Production at the state firm rose to 720,000 boe/d in the third quarter, compared to 684,000 boe/d in the same period last year. Natural gas along with natural gas liquids and liquefied petroleum gas accounted for 24% of production in the third quarter. This was a 13%...