Ecopetrol is evaluating the strategy to ensure the continuity of gas projects in the Southern Caribbean

Core Viewpoint - Ecopetrol S.A. is initiating a joint plan to ensure the continuity of gas projects in the Southern Caribbean following Shell's withdrawal from its offshore assets in the region [1][2]. Group 1: Project Continuity and Development - Shell's withdrawal is linked to its global portfolio strategy, impacting gas discoveries in the Col 5, Purple Angel, and Fuerte Sur blocks, which are considered priority projects for Ecopetrol and Colombia [2][3]. - The Gorgon development project is expected to be completed by the first half of 2029, with production anticipated to start between 2031 and 2032 [3]. - Ecopetrol is exploring connection options with the National Transportation System to commercialize gas from the Gorgon project and meet national demand [3]. Group 2: Strategic Partnerships and Investments - Ecopetrol continues to partner with Shell and Total Energies in the development of the Gato Do Mato field in Brazil, with significant resources allocated for 2025 [4]. - The company is committed to developing gas resources in the Caribbean Sea, viewing gas as a key component of the energy transition [4]. Group 3: Company Overview - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production and holding leading positions in petrochemicals and gas distribution [5]. - The company has a significant international presence, with operations in the United States, Brazil, and Mexico, and holds leading positions in power transmission in several South American countries [5].