The Minister of Mines and Energy, Irene Vélez, is again the protagonist of a controversy that refers to the future of gas and oil exploration contracts, as, after confirming in Davos, Switzerland that these types of contracts, he reversed his statement by saying that “there has been no talk of terminating these contracts.”
“We need to prepare for the global decarbonization of the economy. The decision is to use the resources available today and to respect the contracts in force,” Minister Vélez said on Twitter.
This has reignited controversy in the various oil and gas associations. Luz Stella Murgas, president of the Colombian Natural Gas Association (Naturgas), said the government has made it clear that it will not sign any new natural gas exploration contracts.
“The minister’s trill refers to the contracts and she is consistent with what she has said she is going to help unlock the current contracts, but it is clear to me that the government’s decision is not to sign any new contracts,” said Murgas. .
The leader recalled that in May 2022 it was determined that the country had gas reserves for 11.4 years; however, President Gustavo Petro pointed out that these reserves are until 2042.
“Certainly, the president adds the total reserves that are proven, probable and possible, but we clearly have reserves up to 11.4 years,” the union leader said.
He added that it has been clear to the president that humanity must transition to a carbon neutral world. “We do this by implementing an energy transition in which natural gas is the most important ally. By continuing exploratory activities, we can have energy security.”
He added: “If we take advantage of the availability of natural gas that we have in Colombia to produce urea, we can reduce food costs and fight hunger.”
Meanwhile, Nelson Castañeda, president of the Colombian Chamber of Oil, Gas and Energy (Campetrol), stressed the need to work as a team to implement clean energy.
“The energy transition is fundamental, but cannot affect Colombia’s finances and must guarantee that we will have the necessary fuels to support the development of the communities,” Castañeda stressed.
For its part, the Colombian Association of Petroleum Engineers (Acipet) indicated that while the government has presented the decisions as a commitment to combating climate change, the impacts on the hydrocarbon industry will marginally contribute to environmental solutions and problems at the national level. cause. economic and social.
“Colombia contributes only 0.37% of global greenhouse gases, with exploration and production activities accounting for no more than 1% of the country’s total emissions,” Acipet said.
Canacol announced new gas discoveries
Canacol Energy Corporation has announced new natural gas discoveries in the Lower Magdalena Basin, named Dividivi 1, Saxophone 1 and Chimela 1.
The company spearheaded the Saxophone 1 exploration well on December 2, 2022 on its VIM5 100% E&P managed contract.
In turn, the Dividivi 1 exploration well was drilled on December 20 last year and the well reached a total depth of 1,400 meters.
Meanwhile, Canacol Energy reported drilling the Chimela 1 exploration well on Nov. 13 on its 100% E&P managed contract VMM45, located in the Middle Magdalena Basin.
The well reached a depth of 14,101 md and encountered oil and gas zones within the Lisama Superior and Lisama Basal sandstone reservoirs between depths of 12,410 and 13,694 md.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
