Daily Newsletter

07 August 2024

Daily Newsletter

07 August 2024

Petrobras confirms discovery of gas reserves off Colombia’s coast 

The company drilled the Uchuva-2 well in the Tayrona block, validating the size of the gas discovery initially identified in 2022. 

Shivam Mishra August 06 2024

Petrobras, the state-owned oil and gas company of Brazil, has confirmed a natural gas discovery offshore Colombia. 

The company drilled the Uchuva-2 well in the Tayrona block, validating the size of the gas discovery initially identified in 2022 with the Uchuva-1 well. 

The Uchuva-2 well, which began drilling in June 2024, is situated in Colombia's deep waters, 31km from the coast and at a depth of 804m. 

Petrobras said the well is currently undergoing five phases of drilling.  

The gas-bearing interval was confirmed using wireline logging during the fourth phase and will be further analysed through laboratory tests, the company said. 

Petrobras has a 44.4% operational stake in the Tayrona block. Ecopetrol, the Colombian petroleum company, holds the majority interest of 55.6%. 

In a statement, Petrobras said: “This well adds relevant information for the development of a new frontier of exploration and production in Colombia, reinforcing the volumetric potential for gas in the region.” 

Petrobras added that its activities in the Tayrona Block align with its long-term strategy, which focuses on replenishing oil and gas reserves by exploring new areas and partnering with others. 

The companies will now proceed with the project, aiming to drill the well to the planned depth and assess the reservoir conditions. They anticipate conducting a formation test by the end of 2024. 

According to Reuters May 2023 report, which cited a Petrobras executive, the Tayrona block could contain natural gas reserves of up to four trillion cubic feet. 

As per Ecopetrol’s estimates, gas production from the Tayrona block could begin by 2026. 

For its part, Ecopetrol stated that it has been intensifying efforts to build a strong portfolio of offshore projects, aiming to secure a new source of natural gas that meets the country's needs for energy security and transition. 

In August 2023, Ecopetrol found hydrocarbons in the Orito municipality within Putumayo province. 

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