Venezuela produced 848 Bcf of natural gas in 2008 and consumed 901 Bcf, importing a small volume from neighboring Colombia. Proven natural gas reserves were estimated at 176 trillion cubic feet in 2010 by the Oil & Gas Journal (OGJ), of which 90% is associated with oil reserves. The government regulatory agency Enagas reports that 70% of natural gas production is not marketed but rather re-injected for enhanced crude oil extraction. Recent upgrades to Venezuela’s natural gas pipeline network include the Interconnection Centro Occidente (ICO), with ultimate capacity of 520 MMcf/d, connecting the central and western parts of the country.
Colombia produced 318 billion cubic feet of natural gas in 2008 and consumed 265 Bcf. OGJ reported Colombia’s proven natural gas reserves were 3.96 Tcf in 2010, mostly located in the Llanos Basin. Re-injection for enhanced oil recovery consumed 43% of gas production in 2008. Approximately 2,000 miles of natural gas pipeline stretch across Colombia. In early 2008 the new Antonio Ricuarte pipeline linked the country with
Venezuela. Initially, gas is being exported to aid oil production in western Venezuela, though current plans call for flow reversal beginning in 2012.
Colombia’s cumulative shale gas resource (risked) totals 79 Tcf, combining the gas inplace of the Catatumbo Sub-Basin’s La Luna and Capacho formations. Ultimately, 19 Tcf is determined to be technically
Much of the current oil production in the Maracaibo Basin and Catatumbo Sub-basin is from conventional stratigraphic traps. A recent well drilled by Ecopetrol - apparently the first test of the La Luna Formation in the
Catatumbo - reportedly showed good gas potential, albeit from conventional targets. Junior Canadian E&P Alange Energy Corporation is evaluating the prospectivity of the eastern area of the basin. However, this exploration activity also appears to be focused on conventional
reservoirs within the La Luna Shale interval.
Source: eia U.S. Energy Information Administration, April 2011, World Shale Gas Resources: An Initial Assessment of 14 Regions Outside the United States http://www.eia.gov/analysis/studies/worldshalegas/