Ecopetrol evaluating continuity scenarios for projects offshore Colombia following Shell’s withdrawal

Ecopetrol SA is evaluating scenarios to ensure continuity of projects in the southern Caribbean following Shell plc’s decision to withdraw from its offshore assets in the region, the company said in a release Apr. 24. 

Shell has served as is operator of South Caribbean blocks (Col-5, Fuerte Sur, Purple Angel) in Sinu basin offshore Colombia in a 50-50 partnership with Ecopetrol (OGJ Online, Oct. 24, 2023; Aug. 11, 2022; Feb. 7, 2020).

The blocks contain gas discoveries Kronos-1, Purple Angel 1, Gorgon 1 and 2, and Glaucus 1, which were operated by Shell, which has withdrawn from the blocks in a decision related to its global portfolio strategy and management, Ecopetrol said. 

Ecopetrol said the projects are technically and economically viable and that they are a priority for Ecopetrol and Colombia. 

The maturation of the Gorgon development project and the management of socio-environmental viability are expected to be completed in first-half 2029 with production to begin in 2031-2032, Ecopetrol said, noting it is evaluating connection options with the National Transportation System to commercialize gas from Gorgon to meet national demand.