Ecopetrol and Parex Resources Expand Collaboration for Hydrocarbon Exploration in the Llanero Foothills
Ecopetrol, Colombia’s leading oil company, and Parex Resources, a key player in the exploration and production sector, have signed a new agreement to expand hydrocarbon exploration and production activities in the area recently added to the Llanero Foothills Exploration and Production Agreement. This strategic move aims to enhance the development of Colombia’s energy resources, particularly natural gas and light crude oil, in one of the country’s most promising basins.
The expansion of the agreement was officially approved by Colombia’s National Hydrocarbons Agency (ANH) in November of last year, reinforcing the government’s commitment to facilitating responsible exploration and production activities in areas with high hydrocarbon potential. Under this approval, Ecopetrol is obligated to drill a well within the framework of the evaluation program in the newly added area. This initiative highlights the ongoing collaboration between public and private entities to secure the country’s energy supply and foster sustainable development in the Piedemonte Llanero region.
The first well under this expanded agreement, named Floreña Hurón, will be drilled north of the Floreña field, located within the newly added territory of the Llanero Foothills Agreement. The Floreña Hurón well is expected to contribute significantly to increasing the supply of natural gas to Colombia’s interior regions. The country has seen growing demand for natural gas as a cleaner alternative to other fossil fuels, and this project aligns with national objectives to strengthen energy security while supporting economic growth.
Ecopetrol and Parex Resources’ partnership is not new; the two companies have a history of collaboration in the Piedemonte basin, which is widely regarded as one of the most strategically important areas for discovering new reserves of gas and light crude oil in Colombia. The newly signed agreement reaffirms the commitment of both companies to continue their exploration and production activities in this vital region, leveraging their combined expertise and resources to optimize hydrocarbon recovery.
According to the activity plan outlined by the companies, 2026 will mark a critical phase for these exploration projects. Civil works and the drilling of the Floreña Hurón well are scheduled to begin next year, signaling a significant step forward in the Llanero Foothills development program. The Floreña Hurón project is part of a broader strategy to increase domestic energy supply, reduce dependency on imports, and provide a stable source of natural gas for industrial and residential consumption.
In addition to the Floreña Hurón well, Ecopetrol and Parex Resources will also commence work on the Farallones exploratory well, which falls under the Farallones Agreement. This agreement was announced the previous year and officially approved by the ANH in August 2025. The Farallones well is located south of the Piedemonte basin and represents another key initiative to identify and develop new hydrocarbon reserves. Together, the Floreña Hurón and Farallones wells reflect a comprehensive approach to exploration, combining geological expertise, advanced drilling technologies, and environmental stewardship.
The partnership between Ecopetrol and Parex Resources is particularly significant given the strategic importance of the Piedemonte basin. The region has long been recognized for its potential to yield substantial reserves of natural gas and light crude oil, both of which are critical to Colombia’s energy mix. By focusing on this basin, the two companies aim to strengthen Colombia’s energy infrastructure, support local communities, and contribute to the country’s overall economic growth.
Environmental and social considerations are central to the agreement, with both companies emphasizing responsible development practices. The Llanero Foothills region includes sensitive ecological areas, and Ecopetrol and Parex Resources have committed to implementing comprehensive environmental management plans, conducting detailed impact assessments, and engaging with local communities throughout the exploration and production process. These measures are designed to ensure that the benefits of hydrocarbon development are balanced with environmental protection and social responsibility.
The expanded agreement also reflects a broader trend in Colombia’s energy sector, where strategic partnerships between national and international companies are increasingly used to accelerate exploration efforts. By combining technical expertise, financial resources, and local knowledge, companies like Ecopetrol and Parex Resources are better positioned to identify promising hydrocarbon reservoirs, optimize production, and contribute to the nation’s energy security.
Looking ahead, the Floreña Hurón and Farallones wells are expected to provide valuable insights into the geological characteristics of the Piedemonte basin. Data gathered from these projects will help guide future exploration and production activities, inform infrastructure development, and support Colombia’s transition toward a more sustainable and diversified energy portfolio.
Source Link: https://www.ecopetrol.com.co/
