Statoil entered Colombia in 2014, with the award of a 33.33% working interest in the COL4 offshore license in the Caribbean Sea. Repsol is the operator of the license with 33.34% and ExxonMobil holding the remaining 33.33%.

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The consortium completed a 3D seismic acquisition in 2016 and there are no well commitments during the first exploration phase.

Statoil also holds a 10% equity share in the Tayrona offshore license and a 20% equity share in the Guajira Offshore 1 license.

Petrobras is the operator of the Tayrona license (40%), which includes the Orca-1 gas discovery. Ecopetrol (30%) and Repsol (20%) are the other partners in the consortium. The license comprises the Tayrona A, B and C license areas and the current exploration phase includes a well commitment.

Repsol operates the Guajira Offshore 1 (GUA OFF-1) license with a 30% working interest and the remaining 50% is held by Ecopetrol. A 2D and 3D seismic survey has been conducted and all major license commitments for the current exploration phase are fulfilled.

Repsol operates the Guajira Offshore 1 (GUA OFF-1) licence and retains a 30% after farming down 20% to Statoil. The remaining 50% is held by Ecopetrol. The licence covers an area of 12,200 square kilometres and is located in water depths of 1,500 to 3,500 metres. Repsol has completed a 2D seismic survey in the licence area. The next step includes a 3D seismic survey, which is expected to start later this year.

The award and deals are subject to the final approval of the National Hydrocarbons Agency of Colombia (ANH).