Petrobras: Evaluation of gas discoveries’ commercial viability needed offshore Colombia

Brazilian state-owned energy giant Petrobras has confirmed that the two discoveries off the coast of Colombia have raised the gas potential in the Guajira Offshore Basin to approximately 6 trillion cubic feet (tcf).

Petrobras reached the main target of the Uchuva-2 well two months ago to check the extent of the gas discovery made in 2022 with the drilling of the Uchuva-1 well, which was completed with the Development Driller III rig. Located in deep waters in Colombia, 31 kilometers off the coast and at a water depth of 804 meters, the Uchuva-2 well is said to bring more information for the development of a new frontier of exploration and production in Colombia, reinforcing the volumetric potential for gas in the region.

Planning to undertake a formation test by the end of 2024, the consortium, constituted by Petrobras as operator with a working interest of 44.44%, in partnership with Ecopetrol (55.56%), intended to continue operations to complete the project to drill the well to the expected depth and characterize the conditions of the reservoirs found.

A few weeks later, Ecopetrol disclosed the names Uchuva and Tayrona will no longer be used to refer to its offshore exploration projects in the Colombian Caribbean, nor any project in which the company is involved in compliance with the ruling issued by the Fourth Labor Court of the Santa Marta Circuit. In collaboration with Petrobras, it was agreed that the first project would be referred to as Sirius, and the second as GUA-OFF-0 to comply with the court’s order.

Regarding the extension of the two gas discoveries in former Uchuva wells, renamed Sirius-1 and Sirius-2, the Brazilian player highlights that the gas potential in these discoveries within the Guajira Offshore Basin is around 6 tcf in place (VGIP), confirming the magnitude of the discoveries made in the area and its importance for the Colombian gas market.

As a result, the consortium plans to continue operations to develop the area, under planning and contractual forecasts with the National Hydrocarbons Agency (ANH). Petrobras is adamant that the commercial viability of the reserve requires further studies.

In line with Colombia’s attempts to lessen its reliance on imports, Ecopetrol, through its hydrocarbon transportation subsidiary Cenit, and Promigas, agreed to jointly evaluate a new connection between the country’s coastal and inland gas markets, to achieve a balance between supply and demand for natural gas at the national level.

The initiative seeks to take advantage of the infrastructure designed for transporting crude oil, giving it a new lease on life by converting it into a gas pipeline to optimize the necessary investments and reduce the time required for commissioning. This move is anticipated to provide flexibility for the country to use different supply options in the short and medium term, complying with the applicable authorizations.

Ecopetrol elaborates that the options that could potentially connect to the converted gas infrastructure include local production from the fields of the Lower Magdalena Valley and the Sinú San Jacinto basin alongside imported gas received on the Caribbean Coast and future gas production from offshore fields in the Caribbean Sea.

Ricardo Roa Barragán, President of Ecopetrol, commented: “The new connection between the two markets is a great opportunity to achieve a circuit that guarantees greater reliability in the supply of gas throughout the country.

“In addition, it gives the National Natural Gas Transportation System the capacity to meet demand at a time when the country needs to develop infrastructure solutions that generate minimal environmental and social impacts.”