The withdrawal of Shell’s branch in Colombia, EP Offshore Ventures Limited, leaves Ecopetrol with full control of the COL-5, Purple Angel, and Fuerte Sur offshore contracts in the Colombian Caribbean Sea.

Although Shell’s withdrawal from the South American country strengthens Ecopetrol’s position in natural gas exploration and production, in this context, “the Superintendency of Industry and Commerce is assessing the impact on competition in the energy sector.”

Shell formalized its exit before the Superintendency of Industry and Commerce (SIC), “consolidating the state oil company as a central player in the national energy sector,” which already held the remaining half.

“The pre-evaluation request was filed with the SIC on August 14, 2025, and completed on the 19th of the same month, in accordance with the provisions of the Joint Operation Agreement between both companies.”

This administrative process is in the pre-evaluation phase (Phase I) before the SIC, “which published the transaction notification on August 22, 2025.” From that date, interested third parties have 10 business days to submit comments or additional information relevant to the analysis of the transaction.

M.Pino

Source: infobae

(Reference image source: Jethro Carullo on Unsplash)

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La entrada Ecopetrol assumes offshore projects following Shell’s withdrawal from Colombia apareció primero en Bitfinance.