Shell Farms-in to Gas Discoveries in the Colombian Caribbean
Shell EP Offshore Ventures Ltd., a subsidiary of international super-major Royal Dutch Shell Plc, has entered into an agreement with Colombian state controlled Ecopetrol SA to farm in to a 50% interest in the Fuerte Sur, Purple Angel and COL-5 blocks located in deepwaters of the Caribbean. The area contains recent gas discoveries, estimated by Ecopetrol to contain up to 3 trillion cubic feet (Tcf) of reserves, including the Kronos, Purple Angel and Gorgon discoveries made between 2015 and 2017. Under the terms of the agreement, Shell will assume operatorship of the three blocks, and is expected drill an appraisal well in the area by the end of 2021. The agreement remains subject to customary closing conditions, including approval by Colombia’s Agencia Nacional de Hidrocarburos (ANH).