"Shell confirms that it will abandon its offshore exploration assets in Colombia, COL-5, Purple Angel, and Fuerte Sur, as they no longer align with its strategic ambitions," a spokesperson for the multinational told Reuters .

Oil giant Shell confirmed on Friday that it has withdrawn from three joint ventures in the Colombian Caribbean offshore gas sector, citing concerns that they do not fit its strategy, although it will continue operating in the fuel distribution business in the South American country.

For its part, Colombian state-owned energy conglomerate Ecopetrol said it is working together with Shell to ensure the continuity of the projects.

"Shell confirms that it will abandon its offshore exploration assets in Colombia, COL-5, Purple Angel, and Fuerte Sur, as they no longer align with its strategic ambitions," a spokesperson for the multinational told Reuters .

"Shell will continue working to offer flexible energy products and solutions for Colombia, such as the supply of LNG (liquefied natural gas), as well as high-quality lubricants and fuels," he added.

Ecopetrol specified that the priorities are the Kronos 1, Purple Angel 1, Gorgon 1 and 2, and Glaucus 1 discoveries, which were being operated by Shell.

"These projects, which are technically and economically viable, are priorities for Ecopetrol and the country, and the actions that must be implemented to maintain their continuity over time and develop the resources to ensure the medium-term gas supply are being evaluated," the company said.

Production from the Gorgon development project, whose reserves were confirmed in 2022, could begin between 2031 and 2032, Ecopetrol added.

Ecopetrol is struggling to increase its hydrocarbon reserves amid the restriction imposed by Colombian President Gustavo Petro on signing new exploration contracts, seeking to move the country away from dependence on extractive industries and accelerate the energy transition.