Title : Mansarovar energy’s role in the energy transition: A success story from Colombia oil & gas company
Abstract:
The speech will highlight the critical role of Oil & Gas companies in supporting energy transition objectives while maintaining operational excellence. It underscores Mansarovar Energy Colombia’s contributions to sustainable energy production, cost optimization, and environmental responsibility. Mansarovar Energy, a joint venture between ONGC Videsh from India and the SINOPEC Group from China, has been a key player in Colombia’s Oil & Gas industry since 2006. Its flagship asset, the Velásquez Field—discovered by Texaco in 1946—continues to demonstrate long-term viability with a reserve replacement ratio of 13 years. Over the past two years, the company has significantly increased production by approximately 36% since 2022, achieving its highest output in 2024 since acquiring the field. These results were driven by strategic infill drilling, workovers, and enhanced operational efficiencies. Notably, drilling times were reduced from 47 to 27 days, and Non-Productive Time (NPT) fell from 39% to just 2%, improving productivity and cost efficiency. Opex per barrel execution in 2024 was 28.5 15% below that in 2023, with lifting costs maintained at $13.2 per barrel. Looking forward, Mansarovar Energy’s newly approved growth manifesto outlines ambitious production targets KBOEPD through base production optimization, infill drilling, Enhanced Oil Recovery (EOR) strategies, and potential inorganic expansion. Beyond operational success, the company is deeply committed to sustainability and social impact. Nearly $21 million has been invested in social and environmental programs, including the Agroemprende Cacao initiative, benefiting 1,600 families through the commercialization of 1,400 tons of cocoa. Environmental restoration projects have recovered 177 hectares of forest, creating a refuge for native species such as the puma concolor and leopardus pardalis. These efforts earned national recognition from ESRIColombia for integrating GIS technology, artificial intelligence, and sensors into environmental monitoring. Mansarovar Energy also prioritizes the energy transition, with 80% of its energy needs met by self-produced gas, significantly reducing its carbon footprint. Plans for an additional gas-powered turbine and the installation of solar panels for field illumination further reinforce the company’s goal of achieving carbon neutrality for Scope 1 and Scope 2 emissions by 2027. These efforts align with global objectives of securing energy investments, fostering international collaboration, and accelerating the energy transition. In conclusion, Mansarovar Energy exemplifies how Oil & Gas companies can drive economic growth, enhance sustainability, and contribute to the energy transition. By sharing its success story at the 4th edition of the International Conference on Oil & Gas, and Petroleum Engineering, the company reaffirms its commitment to innovation, environmental stewardship, and international cooperation for a sustainable energy future.
