Ecopetrol and Petrobras form a joint venture to market gas from Colombia鈥檚 Sirius project, enhancing regional energy security and sustainability.
Ecopetrol, Colombia鈥檚 state-owned energy company, and Petrobras, Brazil鈥檚 national oil corporation, have announced a strategic joint venture to market natural gas from Colombia鈥檚 offshore Sirius project. This partnership is designed to enhance the efficiency of gas commercialization and strengthen Colombia鈥檚 energy security amid growing domestic demand.
Located off Colombia鈥檚 Caribbean coast, the Sirius block is co-owned by Ecopetrol (55.6%) and Petrobras (44.4%), with Petrobras acting as the project鈥檚 operator. The field holds an estimated 6 billion cubic feet of natural gas and represents a substantial investment of about $5 billion. The companies expect operations to begin between 2029 and 2030, marking a key milestone in Colombia鈥檚 natural gas development roadmap.
Ecopetrol President Ricardo Roa stated that the agreement covers the marketing of up to 249 million cubic feet of gas per day for a period of six years. He explained that this collaboration ensures a transparent, efficient, and equitable allocation of gas resources from the Sirius field, ultimately helping stabilize Colombia鈥檚 natural gas supply. Roa emphasized that the initiative aligns with the government鈥檚 strategy to reduce dependency on imported fuels, which has grown in recent years as domestic production has declined.
Progress on the Sirius project continues steadily. In October, Petrobras Colombia鈥檚 president Alcindo Moritz reported that nearly half of the required prior consultations had been completed. These consultations鈥攁n integral part of Colombia鈥檚 regulatory framework鈥攅nsure that local and ethnic communities have the opportunity to participate in decisions affecting their lands, culture, and rights. The number of consultations increased from 116 to 120 in September, reflecting the project鈥檚 expanding engagement with community stakeholders.
Once operational, the Sirius project is expected to significantly boost Colombia鈥檚 self-sufficiency in energy. The partnership between Ecopetrol and Petrobras brings together Ecopetrol鈥檚 deep domestic market expertise with Petrobras鈥檚 proven offshore operational capabilities, creating a strong foundation for efficient production and sustainable resource management. Beyond energy output, the project is anticipated to generate employment opportunities and contribute to regional economic growth in northern Colombia.
In a separate development, Russia鈥檚 oil giant Lukoil announced plans to sell its international assets, although details regarding buyers or timelines were not disclosed.
The Ecopetrol鈥揚etrobras alliance underscores the increasing value of regional energy cooperation across Latin America. As natural gas demand continues to expand, such partnerships will play a vital role in promoting sustainable resource development, improving infrastructure connectivity, and reinforcing energy security throughout the region.
