Colombian state oil company Ecopetrol and U.S.-based Anadarko Petroleum Corp discovered a substantial amount of natural gas in deep waters in the Caribbean Sea, Colombia's President Juan Manuel Santos tweeted on Thursday.
Santos proclaimed that the find is the biggest natural gas discovery in Colombia since 1989 and will allow Colombia to be energy self-sufficient over the next few years.
Both companies made the discovery in areas located between 3,675 and 4,415 meters below sea level in the south Caribbean Sea, international media reported.
"Exploration works will continue in the waters of the Caribbean Sea and the latest discovery shows the trust of foreign investors," Santos said.
Colombia's Mines and Energy Minister, German Arce, told local media that the new gas find is sufficient to supply Colombia's natural gas needs for 10 years. However, the companies involved in the exploration and government officials did not further elaborate on potential recovery volumes from the discovery.
Ecopetrol is among the top four oil companies in Latin America, with operations in Colombia, Brazil, Peru, and the United States in the Gulf of Mexico.
By Muhsin Baris Tiryakioglu