Ecopetrol S.A. announced that Shell has withdrawn from three joint offshore gas projects in Colombia's Caribbean, including the Col 5, Purple Angel, and Fuerte Sur blocks. These blocks contain gas discoveries such as Kronos-1, Purple Angel 1, Gorgon 1 and 2, and Glaucus 1, which were previously operated by Shell.
Shell's decision is attributed to its global portfolio strategy and management. Ecopetrol views these technically and economically viable projects as a priority for both the company and Colombia's energy security.
Ecopetrol has initiated a joint plan to determine the best alternative to ensure the continuity of these projects and develop resources for medium-term gas supply. The maturation of the Gorgon development project is targeted for completion in the first half of 2029, with production expected to start between 2031 and 2032.
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