The Colombian energy company Ecopetrol and the Brazilian oil and gas grouop Petrobras have announced the discovery of gas volumes exceeding 170 bcm in the Sirius-2 well in the area of the GUA-OFF-0 block offshore Colombia. The finding could increase Colombia's current reserves by 200%, which were estimated at 80 bcm at the end of 2023.
Petrobras operates the block GUA-OFF-0 through Petrobras International Braspetro (PIB-COL) with 44.44% interest and Ecopetrol is its partner with the remaining 55.56% stake. The consortium plans to invest US$1.2bn in the exploratory phase and another US$2.9bn in the production development phase. Petrobras expects production of about 13 mcm/d for a decade and projects gas production will begin within 3 years of securing all required environmental licenses; first gas could occur in 2027 if Sirius is deemed commercially viable.