Petrobras Colombia eyes Sirius decision as gas exploration gap widens

With proven reserves shrinking by more than half since 2018, the operator’s timeline for the Sirius project signals a critical juncture for the country’s energy security.

By Handelsavisen Newsroom · Automated 2026-07-06 05:03 UTC · 1 min read

Petrobras Colombia is targeting a final investment decision on the Sirius project by the end of next year, according to an interview with company president Alcindo Moritz published by La República.

The timeline underscores the urgency facing the country’s energy sector as it grapples with a severe depletion of domestic resources.

Moritz emphasized that the primary challenge for Colombia’s energy industry is to restart gas exploration, a sector that has seen minimal activity in recent years.

Moritz emphasized that the primary challenge for Colombia’s energy industry is to restart gas exploration, a sector that has seen minimal activity in recent years.

The push for new exploration comes against a backdrop of rapidly declining reserves.

Data indicates that Colombia’s proven natural gas reserves have contracted by 54.6% between 2018 and 2025.

This long-term erosion of the resource base highlights the persistent challenge of reserve replacement in a market where production has outpaced discovery.