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Petrobras had started a plan to sell its stake in the deep waters of the Tayrona Block. After the discovery of offshore gas with Ecopetrol, the state-owned company abandoned the project.
The state-owned oil company Petrobras has abandoned its project to sell its 44% stake in the Tayrona Block, in deep waters off Colombia, and continues with the asset this Wednesday (03/05). The decision came after the discovery of a project with high potential for offshore gas exploration in the region, where it shares a stake with the oil company Ecopetrol. Now, it is getting ready to intensify its activities in the region and take advantage of the enterprise In the next years.
Petrobras will continue with its 44% stake in the Tayrona Block, in deep waters off Colombia, after an offshore gas project
Petrobras, the Brazilian energy company, announced last week that it decided to maintain its stake in the deepwater area of Tayrona, Colombia.
The decision was taken after a technical and financial assessment of the oil and natural gas exploratory area.
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The Tayrona block is located off the coast of Colombia and is an area with great potential for the exploration of natural resources.
Petrobras has a 44% stake in the area, in partnership with the Colombian state company Ecopetrol, which holds a 56% stake.
According to Petrobras, the decision to maintain its stake in the Tayrona area is in line with the company's strategy of focusing on world-class, high-yield assets.
The decision was announced by a Petrobras executive during an energy conference in Houston last Monday.
The Brazilian company had put its stake up for sale after negative exploration results in a previous well, but now recognizes the relevance of the project.
The discovery of natural gas in the Tayrona block, 32 kilometers off the coast of Colombia, is considered promising by the state-owned company and Ecopetrol.
Up to 4 trillion cubic feet (TCF) of natural gas reserves can be confirmed in Tayrona, according to the executive.
Colombia aims to accelerate the development of its offshore gas reserves to boost the country's energy and petrochemical industries and avoid the need for imports.
A new drilling campaign is scheduled for 2024, and offshore gas production is expected to start in 2026.
Petrobras' decision to maintain its stake in the Tayrona Block could boost the offshore gas market in Latin America
Petrobras' decision not to sell its stake in the offshore gas project is an important step for the company and for the energy industry in Latin America.
The discovery of offshore gas in the Tayrona Block is seen as a significant opportunity for Colombia, which aims to increase its production and become more self-sufficient, taking advantage of the presence of the state-owned company and Ecopetrol in the area.
They are optimistic about the project's potential, and Petrobras' decision to remain a partner is a positive sign for the region's industry and economy.
Petrobras is analyzing the information collected in the last drilling campaign. “Depending on this analysis, we may be able to accelerate (the next drilling campaign). We are having a very good experience”, said Carlos Travassos, director of production development at the state-owned company.
Furthermore, the decision also reflects Petrobras' long-term vision and its commitment to the development of the fuel market in Latin America.
Its presence in the Colombian region will be essential to attract even more investment in oil and gas exploration in the area.
With the withdrawal of the plan to sell its stake in the Tayrona Block, Petrobras is now preparing to get even closer to Ecopetrol in offshore gas exploration.
