The president of the state oil company emphasized that gas is the backbone of the country's energy transition
The president of the state oil company pointed out that the challenge is to bring the gas to the surface. Photo: Ecopetrol, Twitter.
During the closing of the V Oil, Gas and Energy Summitthat was announced in Bogotá, the president of Ecopetrol, Felipe Bayón, announced that there is more than enough gas in the country for the energy transition, emphasizing that it is Colombian gas and that it is protected by the tax reform that was approved a few days ago in the Congress.
“We have gas. There is gas, Colombian gas, for us to develop and even protected by the tax reform,” said Bayón, adding that “gas is the backbone of the energy transition and we have it in Colombia. Guaranteeing access to energy is the best way to close the social gaps in our country.”
For the president of the state oil company, in addition to the existing reserves, thanks to wells such as Uchuva and Gorgon, discovered this year, “each one is bigger than Cusiana and Cupiagua”, the two wells that produce most of the gas consumed in Colombia. Likewise, Bayón also highlighted that currently the Tayrona Block has a gas potential between 3.4 and 5.5 teras, which is added to the total potential of the Caribbean region, which is between the 70-100 teras.
“Both Uchuva and Gorgon, whether one looks at them independently or individually, each is a world-class discovery, each is larger than Cusiana or Cupiagua and can be put into production before the end of this decade”
Bayón affirmed, then, that the challenge is to bring these resources to the surface, since they represent 25 times what is currently in the reserves, reiterating that hydrocarbons are fundamental to maintaining energy sovereignty in Colombia.
“Hydrocarbons are fundamental to maintaining our energy sovereignty. In the third quarter of the year, we produced 720,000 barrels, of which 24% corresponds to gas, the resource that drives the path towards transition.”
During his speech at the closing of the summit, the president of Ecopetrol also warned that from the state oil company it is expected that the exploitation projects for the gas fields in the Caribbean region can be developed before 2030, for which reason, according to Bayón, negotiations are underway with the Turkish National Company. Indicating, furthermore, that thanks to the approval of the tax reform, the gas fields retained their differential tax treatment.
Likewise, Bayón pointed out that work is being done so that development in the territories can be sustainable, highlighting that “since 2019 we have benefited more than 3,000 producer families, 500,000 students, 628,000 inhabitants have access to drinking water and we generate 19,000 connections to gas networks, among other inspiring facts.”
Bayón also referred to the fact that ISA (Interconexión Eléctrica S.A), the company that it owns, is being studied to reestablish the connection that existed in the past with Venezuela, since the regional interconnection is one of the flags of the government of Gustavo Petro, and that are contemplated in the bases of the national development plan, with regard to the energy transition in Colombia.
“ISA is working on the connection between Colombia and Panama, ISA has the connection with Ecuador, we are seeing what can be done with Venezuela, a connection that was had and was lost, and we are working between Peru and Chile, so that we could connect the continent,” said Bayón.
Roy Barreras defended the continuation of oil exploration
The congressman sent a message to the public: “the country is doing the right thing with gas management, Colombians will be able to enjoy around 20 years of energy autonomy.” Photo: Infobae Colombia Archive.
The president of Congress, Roy Barreras, during his speech at the V Oil, Gas and Energy Summit, spoke about the need to continue advancing the processes of hydrocarbon exploitation in the country, stating that “without exploration there is no paradise and if paradise is renewables (solar, wind, among others), it cannot do without oil financing” , he highlighted in his speech.
Regarding the energy transition, Barreras stated that it will be a process that should last for years, “when the country is able to function with clean energy.”
“We have to make an energetic transition, but that will not be done in 15 days, it will be done in 15 years and hand in hand with the oil sector there will be stability in the market, there will be exploration and exploitation and it is necessary to plan for 15 years how we change oil for solar energy or wind energy”, he indicated.