Colombia's Ecopetrol booked its biggest increase in proven oil and gas reserves in three years in 2024, rising to 1.89 billion barrels of oil equivalent, data from the majority state-owned company showed on Thursday.

Ecopetrol SA plans to offset Colombia’s dwindling natural gas reserves by developing two facilities that will allow it to import the fuel starting next year, its top official said in an interview.

Ecopetrol has announced a substantial increase in its proven oil, condensates and natural gas reserves as of 31 December 2024. The reserves, certified by independent organisations, reached 1,893 million barrels of oil equivalent (mboe).