Niranjan Roul, Country Manager of ONGC Videsh Limited, spoke exclusively with Valora Analitik about this milestone. In this interview, he explains the motives behind his optimism about Colombia’s oil and gas industry, and the Company’s plan to increase its production next year.

What is the interest you have in Colombia?

Besides Colombia, we currently operate in Brazil and Venezuela. Colombia is one of the most promising oil fields of our portfolio. We found it in CPO-5 block, in the department (Meta). It is providing a good amount of oil to the country. When we discovered the oil field, we projected around 22,000 barrels of oil per day in CPO-5. Until now, we have produced more than 45,000 barrels of oil from that block.

We have a big CPO-5 range, around more than 2,000 square kilometers of area. We have explored less than one-fourth of it. So, we have a big incentive to keep exploring. The company gathers a very good vision and perspective for this block.

How long have you been here in the country?

We landed here in 2008. Our journey started searching and finding different and appropriate partners to develop the different blocks. Previously, we had blocks that were already surrendering, but now the CPO-5 is very promising for us, and we have a very good quantity and quality of oil.

This is why we are going to put forward a drilling campaign and expand our drilling activity. We are certain that the community should be the best friend to do business with. It is of our major interest to have an exceptionally good relationship with the community so the business can be expanded, with them as a key stakeholder.

As an industry, we are very optimistic about Colombia’s oil and gas industry, and we hope that it will be going very nice.

Do you have more fields in Colombia?

No. Currently, we only have that field. CPO-5 in Meta. Our focus is on Meta.

How much have you invested in Colombia?

Since 2008, we have had different blocks, different segments of investment. But considering the CPO-5 block, which is now our focus, if I am not wrong, it is around US$303 million.

But, every year, our investment is quite substantial. This year, particularly, 2026, we invested around US$35 million in this block, and we have a bigger plan for 2027. We are increasing our budget and increasing our investment, as well.

What is the expected amount of oil production you want to achieve in Meta?

We are focusing on more than 30,000-barrel oil per day; if everything goes right, it will be by the middle of 2027. I do not doubt we will be achieving it.

What kind of opportunities are available in Colombia to probably sell to India?

India is one of the highest consumers of crude oil in the world. We are importing crude oil from Russia, from Arabian countries, from the Middle East, and from Latin America also. We are importing from Colombia and Venezuela.

Definitely, the oil from Latin America is important for India. So, in the future, I think India will be looking more towards Latin American oil. If Colombia rises up to the occasion, it will be a very good opportunity for doing business in India. I think a lot of oil can be exported to India from Colombia.

Do you have a close relationship with Ecopetrol?

They are the main consumer of our crude oil. We sell our oil to Ecopetrol. We are open to having a business with Ecopetrol for the upstream business.

Do you plan to be in the country, developing new operations, so you can strengthen your position in Venezuela?

This is business with a synergy effect. We have business in more than 15 countries. Each project helps each other. Now Colombia is producing. So we work on a constructive synchronization. Definitely, as business grows in Colombia, Venezuelan business grows up as well.

But do you hold high expectations about the Venezuelan market?

Of course. Because we have two blocks that were already acquired long back ago. Our management is working to start the operation over there.

What do you think about our business environment?

We can say the people working in our company are very good. They are very sincere and honest; they are giving their best effort.

We are also understanding the community, because we are Indian people who are culturally different.

It’s been 15 years since we’ve reached the community so we could understand each other and work together. Colombia is a very good country to work in. Besides from some small issues like social earners, it’s a particularly good country to work with.

Would you like to add something else?

I think the government has to come up with new ideas to expand the oil and gas industry to help the industry to grow more. They seem to be committed in making a friendlier and more competitive environment to grow investment towards hydrocarbons, as lever to expand Colombia’s economy.

On the other hand, the oil and gas transport network is limited in the country. If that can be improved, then the industry will change drastically.

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