07/11 Closing Prices / revised 07/12/2024 07:42 GMT |        07/11 OPEC Basket   $86.11   +$0.71 cents 07/11 Mexico Basket (MME) $76.61   +$0.44 cents   05/31 Venezuela Basket (Merey)  $70 45   -$4.36 cents| 07/11 NYMEX WTI  August CLQ24  $82.62 +$0.52 cents  | 07/11 ICE Brent Sept  BRNU24  $85.40 +$0.32 cents  | 07/11 NYMEX Gasoline Aug RBQ24  $2.52 +0.6 %  |  07/11 NYMEX  Heating Oil  Aug  RBQ 24    $2.52  -0.5% | 07/11 Natural Gas August NGQ 24   $2.27  -2.6%  | 07/05 Active U.S. Rig Count (Oil & Gas)    585  +4  | 07/12 USD/MXN Mexican Peso   17.7730 (data live)  | 07/12 EUR/USD  1.0869 (data live)  | 07/12 US/Bs. (Bolivar)   $36.53030000 (data BCV)

Petrobras to keep stake in Colombia’s deepwater block Tayrona – Reuters

Ecopetrol oil rig, Caribbean sea, Colombia.
Ecopetrol oil rig, Caribbean sea, Colombia.

Mrianna Parraga, Reuters

HOUSTON
EnergiesNet.com 05 02 2023

Brazil’s state-controlled oil company Petrobras (PETR4.SA) has abandoned a plan to sell its 44% stake in a promising offshore gas project it shares with Colombia’s Ecopetrol (ECO.CN) in the Andean country, a Petrobras executive said at a Houston energy conference on Monday.

Petrobras and Ecopetrol last year announced a natural gas discovery at the Uchuva-1 deepwater well in the Tayrona block, 32 kilometers off Colombia’s coast. The Brazilian company two years earlier had offered its stake for sale following poor exploration results at a previous well, Orca-1.

Petrobras operates the Tayrona block, which is expected to deliver Colombia’s first gas production from deep waters fields in 2026 by connecting to nearby infrastructure, according to Ecopetrol’s projections.

“Not anymore,” said Carlos Travassos, Petrobras’ chief production development officer, when asked about plans to sell the company’s stake in Tayrona. “We have seen the relevance of this,” he said on the sidelines of the Offshore Technology Conference.

Colombia wants to speed up discovery and development of its offshore gas reserves to avoid the need for imports and boost industries from power to petrochemicals. Neighboring Venezuela has offered to export gas, but top executives at Ecopetrol and other producers have said the country must prioritize developing its own resources.

As much as 4 trillion cubic feet (TCF) of natural gas reserves could be confirmed in Tayrona, the executive said, which makes it a very promising project along with the Gorgon ultra deepwater gas field by Ecopetrol and Shell (SHEL.L) and another deepwater venture by Occidental Petroleum (OXY.N) and Ecopetrol to begin drilling in 2025.

A new drilling campaign is planned for 2024 by Tayrona’s stakeholders to progress towards that goal.

Petrobras is analyzing information it gathered from the latest drilling campaign. “Depending on that analysis, maybe we can speed up (the next drilling campaign). We are having a very good experience,” Travassos said.

Reporting by Mariana Parraga

reuters.com 05 01 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

 
 
Scroll to Top