Colombia has made its biggest gas discovery since the 1990s with the confirmation of the Sirius project, previously known as Uchuva, which holds 6 trillion cubic feet of natural gas in the Caribbean Sea. Spearheaded by Ecopetrol and Petrobras, this discovery has the potential to double the country’s current reserves, but it won’t solve its immediate energy issues as Colombia will need to import gas next year to meet demand.
Despite the promising prospect, the project faces challenges such as completing 116 prior consultations, particularly with indigenous communities like the Taganga community. A recent court ruling has halted operations until these consultations are done, leading to opposition from government entities.
While the Sirius gas field is a significant find, commercial production isn’t expected until 2029 or 2030, delaying its impact on Colombia’s gas deficit. Further tests are required to determine the actual production capacity, which could potentially meet the country’s needs for 20 years at the current consumption rate.
Ecopetrol and Petrobras plan to start production in 2029 but must overcome operational, legal, and social obstacles. This new gas discovery could offer five to seven years of supply and requires a $5 billion investment according to industry experts.