Ecopetrol and Parex Resources have signed a strategic agreement to explore and produce hydrocarbons in Colombia's Piedemonte region, focusing on enhancing domestic gas supply.

Information on the Target

Ecopetrol and Parex Resources have entered into a new agreement focusing on hydrocarbon exploration and production in the Piedemonte region of Colombia, specifically in the departments of Boyacá and Casanare. This collaboration will expand on existing contracts and is a significant strategic move towards enhancing gas production domestically.

The deal involves the drilling of a new exploration well named Floreña Hurón, which will be located north of the existing Floreña field. This initiative aims to increase the supply of natural gas to meet domestic demands, capitalizing on the potential of the area to uncover new reserves of gas and light crude oil.

Industry Overview in Colombia

The energy sector in Colombia, driven primarily by oil and gas, is undergoing notable changes. As one of the leading oil producers in Latin America, Colombia's hydrocarbon industry pla