The National Hydrocarbon Agency (ANH) presented the 2023 resources and reserves reportin which a significant drop in the life of gas and oil reserves is evident, which went from being 7.2 years to 6.1 in the case of natural gas and from 7.5 years to 7.1 in the case of oil.
(In context: Gas reserves fell to 6.1 years and oil reserves to 7.1 years in 2023 according to the ANH)
In this sense, The Ministry of Mines and Energy indicated that they are working to reverse the trend downward trend that has been seen in both hydrocarbons and with which they can bring potentially recoverable contingent resources closer to reserves.
Orlando Velandia, president of the Agencyalso highlighted that during 2023 the country has registered the highest number of natural gas discoveries in the last 10 yearssince eight discovery announcements were made.
He also stated that between In 2014 and 2023, there have been 48 notices of gas discoveries natural in the country, of which 31.25% have occurred from August 2022, i.e. 15. In the case of oil, in the last 10 years 88 discovery announcements have been made, of which 16 have occurred since 2022.
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In this sense, Velandia said that These findings have not yet been evident in the reserves, since more work is required. and permits that allow the wells to be declared commercial. In this sense she said that They hope to facilitate and streamline these processes so that by the end of this year they have been able to incorporate to the reserves.
“After the discovery is made, the economic evaluations to declare commerciality and at that time the steps are completed so that they can become reserves and be brought to the surface“, said.
He explained that at this moment There are very advanced projects on which it is expected that commerciality declarations can be made in the coming months and in this way “we hope to change the trend of reserves by December 31,” he said.
(Also: The Government is preparing to squeeze ‘lazy’ oil areas in search of increasing reserves)
Naturgas, union that associates natural gas producing companies, expressed its concern about the results of the report of resources and reserves presented, in which all gas reserve figures fell.
“The country must commit to maintaining its energy sovereignty. cColombia has discovered significant potential in gas reserves, and today’s results represent an urgent call to increase exploratory activity and expedite the development of these resources“said Luz Stella Murgas, president of the union.
It is worth noting that the proven gas reserves fell 16% from one year to the next, going from 2.82 cubic terapies at the end of 2022 to 2.37 cubic terapies as of December 31, 2023. In the case of reservess probable and possible, these also showed an annual contraction.
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Murgas emphasized the relevance of increase exploratory activity with the objective of maintaining self-sufficiency energy of the country. For this, the Ministry has launched a series of measures such as a draft resolution through which it generates flexibility so that resources can be put on land in less time.
“Adding reserves to extend our self-sufficiency in natural gas must be a national goal. As users, government and industry, we must work together to secure the necessary gas and thus accelerate the energy transition in a reliable and safe manner.“said the union leader.
DANIELA MORALES SOLER
Portfolio Journalist
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