Ecopetrol, Petrobras to jointly market natural gas from Colombia’s Sirius project

Colombia’s Ecopetrol and Brazil’s Petrobras have revealed plans to produce up to 249 million cubic feet a day of natural gas from the Sirius discovery off the Andean country’s northern coast.

The companies said they signed a joint commercialization agreement of up to six years with output expected to begin in 2030. The deal was reported by both Reuters and BNAmericas.

“The start of production at the Sirius field...is essential for Colombia’s energy security and to ensure the country’s long-term natural gas supply,” Ecopetrol said in a statement. 

Ecopetrol CEO Ricardo Roa said gas from Sirius would be among the cleanest in the world and cheaper than LNG from abroad. “According to our analyses, it will be around 40% cheaper than the current price of imported gas in the country,” he said. 

Ecopetrol said Sirius wells would be connected to Colombia’s national pipeline network, without providing details of the plans for new infrastructure.

Sirius forms part of the Gua-Off-0 block, formerly known as Tayrona, located less than 100km from the city of Santa Marta. Brazilian state-run firm Petrobras has a 44.4% operating stake in the block with Ecopetrol holding the balance.

Last year, Ecopetrol said the consortium planned to invest US$1.2 billion in exploration and US$2.9 billion in the development and production phases. 

The companies say the area holds estimated reserves of more than six trillion cubic feet, making it Colombia’s largest ever gas discovery. 

Confirmation of the project’s production potential comes as Colombia grapples with a looming gas shortage. 

Data published by natural gas market administrator BMC shows the country faces a deficit of up to 190 billion British thermal units a day in 2026 amid rising demand and a sharp decline in proven reserves.