Colombia’s Ecopetrol SA found an offshore pure fuel deposit that would probably produce as much as 800 million cubic toes of fuel a day, in line with Chief Govt Officer Ricardo Roa.
The invention within the Papayuela properly within the nation’s Caribbean waters is in early levels and will take between 5 to seven years to change into productive, Roa instructed reporters on the sidelines of an power occasion in Cartagena. It might meet 80 % of Colombia’s present demand, he added.
The properly is positioned within the Tayrona block and Ecopetrol is the only real operator, Roa mentioned, declining to offer extra data.
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The announcement comes as Colombia braces for a pure fuel shortfall that’s forecast to begin as quickly as subsequent yr. President Gustavo Petro, who has made combating local weather change a precedence, has refused to grant licenses to discover for brand new websites to drill whilst reserves wither.
On Thursday, Ecopetrol mentioned it might convert Colombia’s Central Oil Pipeline to move fuel after an settlement with Promigas SA. The pipeline would offer a brand new different to ship the gas from the nation’s Caribbean coast to the inside.
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