Back

LatinNews Daily - 12 December 2022

In brief: Colombia’s Ecopetrol unveils major investment plan

*Colombia’s state-run oil firm Ecopetrol has announced it will invest between Col$25.3trn (US$5.3bn)-Col$29.8trn in 2023 to ensure Colombia’s energy security and speed up the energy transition process. According to an Ecopetrol statement, around 23% of the investment plan is directed at cementing diversification in the sector of reducing carbon emissions, including investment in production of green hydrogen and renewable energy as well as the areas of carbon capture and electricity transmission. According to Ecopetrol’s statement, the aim is to reduce carbon emissions by around 400,000 tonnes (t) and incorporate around 900 megawatts (MW) of renewable energy and over 50,000 t of green hydrogen into the energy grid by 2025. As regards Ecopetrol’s other priority - energy self-sufficiency - the plan earmarks between Col$3.6trn and Col$4.1trn for exploration and production initiatives and aims to drill 1,600 wells across the country between 2023 and 2025.

End of preview - This article contains approximately 157 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.