The Colombian Sirius gas project is moving forward with consultations and nearing the contracting phase

Alcindo Moritz, Petrobras Colombia's chief, said that the project Sirius, which is being developed by Ecopetrol, a state oil company in Colombia, and Petrobras of Brazil, off its Caribbean coast, has nearly completed half of the consultations with communities who could be affected by it.

In December, the companies announced that they had confirmed Colombia’s largest gas discovery ever while drilling a hole there. The South American country has limited reserves of gas and this project could reduce imports in order to meet the domestic demand.

Initial consultations began at 116, but by September they had risen to 120.

Moritz, speaking at a conference on oil organized by the National Hydrocarbons Agency of the United States, said that the project was moving forward. "We will enter Phase 3 of this project where we begin to prepare contracts."

Indigenous communities are entitled to a consultation prior to any decision that could have an impact on their land, culture or livelihood.

Estimated 6 billion cubic feet gas is on site for the Sirius project. It should cost $5 billion. Companies predict that it will be online between 2029 to 2030.

Ecopetrol holds 55.6% of the shares, while Petrobras owns the rest 44.4%.

In October last year, a court overturned a decision to suspend activities on the site. Local community representatives claimed that the Taganga community had not been consulted in advance. (Reporting and writing by Nelson Bocanegra, Editing by Sarah Morland).

(source: Reuters)