Repsol in Colombia

Colombia is a country with an emerging economy and a mining-energy sector that has grown significantly in recent years. It is located in northwestern South America, bordering Venezuela and Brazil to the east, Peru and Ecuador to the south, and Panama to the northwest.

We arrived in Colombia in 1983 to develop our exploration and production activities throughout the country. Colombia represents a strategic country for the company and is one of our key development areas.

Additionally, we have signed two contracts with the Colombian National Hydrocarbons Agency (ANH) to carry out exploration and production operations in the offshore blocks GUA OFF-1 and COL-4, located off the Colombian coast. Repsol will be the operator of both.

Our activity in figures

7 million

oil barrels

1 million

barrels of oil equivalent in gas production

21,503 km2

of total surface area

Repsol in Colombia. Map of exploration in Colombia
Aerial view of the Akacías project

Akacías project

In 2018, in cooperation with Ecopetrol, we began the development phase of the Akacías production field located in the Acacías and Guamal municipalities, part of Block CPO-9. This field currently has nine active wells, with average daily production standing at 6,300 barrels.

Following the tests carried out on the exploratory well Lorito-1 in block CPO-9 (Ecopetrol: 55% WI and operator; Repsol: 45%), it was confirmed as a commercial discovery. In the same block, an announcement was made regarding the approval to start Phase 1 of the Akacias project Development Plan, which includes the drilling of 19 producing wells. In March 2019, record production levels of 20,000 boe/d were reached (including existing wells).

In addition another three discoveries have been made in the Cosecha block with the Cosecha-V-01, REX-NE-01, and Cosecha-C-01 wells.

Invested companies

  • Equión: In April 2015, Repsol acquired a 49% stake in Equión; the other 51% has been owned by Ecopetrol since 2011. Its production fields are Piedemonte and Río Chitamena.
  • Occidental de Colombia: We have a 25% stake in this company, while Occidental owns the other 75%. The blocks belonging to this company include: Cosecha, Chipirón, Rondón , and Cravo Norte.

 

Marketing our lubricants and specialized products

We offer a wide range of synthetic, semi-synthetic, and mineral-based lubricants that meet the needs of all our customers. These products are specifically designed for each vehicle type, ranging from motorcycles, cars, and trucks, to public works machinery, or 2-stroke and 4-stroke boat engines. Every Repsol product is JASO and API certified, guaranteeing maximum quality and protection for engine components while boosting clutch and gear performance.

Our commitment to development

At Repsol, we are firmly committed to the communities that live near the areas where we operate. We work together with these communities to find ways to contribute to improving their quality of life, and we were in fact the first oil company to sign an agreement with the United Nations in Colombia.

Repsol worldwide. Image of a beach in La Guajira

Success story: No-go in La Guajira

This project demonstrates Repsol's commitment to respecting human rights. In the La Guajira region of Colombia, we carried out a human rights impact assessment which resulted in the Company's decision to not go through with the exploration project.

A woman collects fruit from a plant

Competitiveness in rural areas

Together with the Canadian embassy and Socodevi we are working on a project to help make collective rural businesses more competitive (Procompite), by increasing agricultural production and supporting existing production chains and organizations. There are currently 880 families benefiting from this initiative.

A man and two women pose for a photo with a building in the background

Sustainable settlements

In cooperation with the United Nations Development Programme we are working on “Sustainable Settlements” to improve the quality of life of more than 500 families, encouraging entrepreneurs, supporting local businesses, and helping people enter the job market.

A man uses a a craft machine

Human rights training

In a joint effort with the Repsol Foundation and Zabala Innovation, we provide training to the indigenous peoples living in Guajita and farmers in the Meta region of Colombia, in order to teach them about their rights and to help strengthen these communities’ social structure.

Repsol in Colombia. Hands hold red berries

The indigenous Wayuu people

In Alta Guajira we work with a local indigenous community called the Wayuu. In 2014, we launched a project in cooperation with the United Nations Development Programme (UNDP) to improve local access to drinking water. In 2017 we built the Ramón Paz Ipuana Library using Repsol Foundation funds, and in 2018 we brought Bogotá’s International Book Fair to this part of Colombia for the first time in 31 years.

Our commitment to sustainability

Sustainability is a constant theme throughout our activities, and our best practices contribute to the UN’s 17 Sustainable Development Goals, as outlined in our 2030 Agenda. Find out more 2020 Sustainability Plan and Year-end Report for Colombia |PDF| 2.4 MB.

Contact
Address: Carrera 7 No 77-07 pisos 12 y 13 Bogotá
Tel: +57 1 7051999
Email: repsolcolombia@repsol.com

Last updated: December 2020