BOGOTA (Reuters) -Oil giant Shell has pulled out of three joint offshore gas projects in Colombia’s Caribbean, the South American country’s state-run oil company said on Thursday.
The two companies are working together to guarantee the continuity of projects in the Col 5, Purple Angel and Fuerte Sur blocs, Ecopetrol said in a statement, adding Shell’s decision is down to “reasons related to its strategy and management of its global portfolio.”
Shell did not immediately respond to requests for comment.
Ecopetrol’s priorities are the Kronos1, Purple Angel 1, Gorgon 1 and 2, and Glaucus 1 discoveries, which were being operated by Shell, it said.
“These projects, which are technically and economically viable, are priorities for Ecopetrol and the country, and we are evaluating what actions should be implemented to maintain their continuity over time and develop the resources to ensure supply in the medium term,” the statement said.
The Gorgon deepwater well, where reserves were confirmed in 2022, is expected to begin production between 2031 and 2032, it added.
(Reporting by Julia Symmes Cobb)
