Ecopetrol resumes fracking and offshore drilling to add reserves

Ecopetrol will resume oil and gas exploration across conventional and unconventional assets, including hydraulic fracturing, while maintaining offshore drilling. Newly inaugurated CEO Joaquín Gutiérrez Caballero announced the shift during his swearing-in ceremony at the Quinta de San Pedro Alejandrino in Santa Marta on September 26, 2026.

President Abelardo de la Espriella stated that his administration will sign new exploration contracts under strict environmental standards after four years of declining profits and stalled exploration activity. De la Espriella noted that at the end of 2025, Ecopetrol held 944 million barrels of oil equivalent in proved reserves, representing an average reserve life of 7.8 years for total hydrocarbons and 6.3 years for natural gas.

Gutiérrez warned that Colombia faces a narrow energy horizon, citing national reserve levels of 7.4 years for oil and 5.9 years for gas. To address this, the company will focus on Caribbean offshore fields such as Sirius, a joint natural gas project developed alongside Petrobras, and open an alternate corporate office in Barranquilla.

The management team also plans to approach officials in Washington to pursue alliances and business opportunities with the United States government. Leadership stated that energy transition initiatives will continue, but only through profitable projects funded by maintaining a strong core hydrocarbons business.