SUBSCRIBE
PROFILE

Ecopetrol uses AI to improve oil exploration and production

Colombian oil company Ecopetrol will use AI to improve exploration and increase existing crude production. This initiative is part of the company's transition to greener energy sources.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Colombia’s majority state-owned oil company, Ecopetrol, has announced that it will use new technologies, including artificial intelligence (AI), to improve exploration success rates and increase production from existing oil fields.

Advanced technology and artificial intelligence for oil production at Ecopetrol

The company’s new CEO, Ricardo Roa, who officially took office on Monday, said the goal was to make Ecopetrol’s oil fields “a little bit smarter” and increase crude production in different wells. He added that the use of “new technologies, with artificial intelligence, combined with data intelligence,” could increase daily production to about 1 million barrels of oil equivalent per day (boe/d). Currently, Ecopetrol produces 709,500 boe/d.

Roa also said the company would increase the recovery factor in its oil fields by at least 2%. The current recovery factor in Ecopetrol’s oil fields is about 19%, he said. In addition, the company will work to increase its exploration success rate, which is currently between 18% and 20%, although Roa did not give a specific target.

Acquisition of ISA: a responsible decision for Ecopetrol in the energy transition

This announcement comes in the context of the desire of the government of left-wing President Gustavo Petro to reduce Colombia’s dependence on oil and gas. Ecopetrol’s acquisition of a 51.4% stake in the energy conglomerate ISA was the first “responsible decision” the company made in the transition to greener, renewable energy sources, Roa said. The stake was purchased from the Colombian government for 14.2 trillion pesos ($3.1 billion) in 2021.

“When Ecopetrol acquired ISA, it acquired a different business than oil and gas,” Roa said. “This diversifies the portfolio, it decouples wealth generation from what is today Ecopetrol’s primary source, gas and oil, to generate cost-effective and profitable revenue options for the future,” he added.

The use of AI and other technologies in the petroleum industry is not new, but the growing demand for energy efficiency and the transition to greener energy sources have made it a necessity.

  • Popular on energynews.pro
Battery storage market projected to reach $99.67bn by 2033
BayWa r.e. receives DNV certification for its concrete floating wind concept
Blackstone injects $1.2bn into West Virginia’s first natural gas power plant
ORE Catapult tests Danish technology to extend offshore wind blade lifespan
Northland Power invests in 300 MW battery storage through deal in Poland
TotalEnergies strengthens position in Nigeria with 90% stake in OPL257
TotalEnergies increases its stake to 90% in Nigeria’s offshore block OPL257 following an asset exchange deal with Conoil Producing Limited.
TotalEnergies and Chevron compete for 40% stake in Mopane oil field in Namibia
TotalEnergies and Chevron are seeking to acquire a 40% stake in the Mopane oil field in Namibia, owned by Galp, as part of a strategy to secure new resources in a high-potential offshore basin.
Rosneft sells 11% of KPC to ease sanctions pressure
The reduction of Rosneft’s stake in Kurdistan Pipeline Company shifts control of the main Kurdish oil pipeline and recalibrates the balance between US sanctions, export financing and regional crude governance.
Lukoil puts pressure on Sofia to finalise refinery divestment
Russian group Lukoil seeks to sell its assets in Bulgaria after the state placed its refinery under special administration, amid heightened US sanctions against the Russian oil industry.
Washington launches new sale of 80 million offshore oil acres
US authorities will hold a large offshore oil block sale in the Gulf of America in March, covering nearly 80 million acres under favourable fiscal terms.
Sinopec to invest $437 million in hydrotreatment unit in Algeria
Sonatrach awarded Chinese company Sinopec a contract to build a new hydrotreatment unit in Arzew, aimed at significantly increasing the country's gasoline production.
Chevron in advanced talks to acquire Lukoil’s international assets
The American major could take over part of Lukoil’s non-Russian portfolio, under strict oversight from the U.S. administration, following the collapse of a deal with Swiss trader Gunvor.
Lukoil shuts down 430 petrol stations in Finland under US sanctions pressure
Finnish fuel distributor Teboil, owned by Russian group Lukoil, will gradually cease operations as fuel stocks run out, following economic sanctions imposed by the United States.
Exxon to close its ethylene plant in Scotland amid market pressures
ExxonMobil will shut down its Fife chemical site in February 2026, citing high costs, weak demand and a UK regulatory environment unfavourable to industrial investment.
Orlen acquires 7.6% of Ekofisk project as DNO reallocates assets
Polish state-owned group Orlen strengthens its North Sea presence by acquiring DNO’s stake in Ekofisk, while the Norwegian company shifts focus to fast-return projects.
Syria signs strategic oil deal with ConocoPhillips and Nova Terra Energy
The Syrian Petroleum Company has signed a memorandum of understanding with ConocoPhillips and Nova Terra Energy to develop gas fields and boost exploration amid ongoing energy shortages.
Fincraft offers revised C$1.75 per share bid to acquire Tethys Petroleum
Fincraft Group LLP, a major shareholder of Tethys Petroleum, submitted a non-binding proposal to acquire all remaining shares, offering a 106% premium over the September trading price.
China increases crude oil stockpiles in October as prices stabilise
As global oil prices slowed, China raised its crude stockpiles in October, taking advantage of a growing gap between imports, domestic production and refinery processing.
Kuwait Petroleum Corporation secures record KWD1.5bn loan to support expansion strategy
Kuwait Petroleum Corporation has signed a syndicated financing agreement worth KWD1.5bn ($4.89bn), marking the largest ever local-currency deal arranged by Kuwaiti banks.
Benin receives offshore unit to relaunch the Sèmè oil field
The Beninese government has confirmed the availability of a mobile offshore production unit, marking an operational milestone toward resuming activity at the Sèmè oil field, dormant for more than two decades.
Baghdad seeks to preserve oil production despite sanctions targeting Lukoil
The Iraqi Prime Minister met with the founder of Lukoil to secure continued operations at the giant West Qurna-2 oil field, in response to recent US-imposed sanctions.
Pertamina increases imports to meet gasoline demand
The sustained rise in consumption of high-octane gasoline pushes Pertamina to supplement domestic supply with new imported cargoes to stabilise stock levels.
CRR acquires 53 km of oilfield road infrastructure from Islander in Alberta
Canadian group CRR acquires a strategic 53-kilometre road network north of Slave Lake from Islander Oil & Gas to support oil development in the Clearwater region.
Kazakhstan denies any plan to acquire Lukoil’s local assets
Kazakhstan’s energy minister dismissed any ongoing talks between the government and Lukoil regarding the potential purchase of its domestic assets, despite earlier comments from a KazMunayGas executive.
OPEC and GECF warn of structural deficit in global energy market
OPEC and the Gas Exporting Countries Forum warn that chronic underinvestment could lead to lasting supply tensions in oil and gas, as demand continues to grow.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.