With a focus in energy transition and the Caribbean region, Barranquilla aims to become a regional hub for the energy sector. Future solar projects and a thriving offshore oil and gas sector, natural gas and renewable energy will all play a key role in the Colombian capital of energy.
With some of the best educational institutions in the country, a strong health-care system, and the second largest carnival in the world, Barranquilla leads in nearly every sector. The energy and oil and gas industry continue to expand, providing an example of expertise to other countries, especially for those located in the Caribbean like Guyana, Suriname, Dominican Republic etc.
The Port of Barranquilla is strategically located near the offshore blocks in the region and areas with the highest levels of radiation where most of the solar projects are located. This system spans 22 km and has many private and public terminals to foster the growth of the energy industry. The city also receives cargo inland through the Magdalena River through connections with 459 ports in 122 countries.
This represents a great opportunity for international companies from major energy cities specializing in environmental studies, ocean technology and innovation. Looking forward, findings in the Colombian Caribbean will create new jobs, technical training and build current energy services.
Currently, Colombia’s oil production is around 800,000 barrels per day (bpd). All this production came from inland sources as Colombia had not yet tapped into offshore oil production. However, the national development plan 2020- 2024 promotes natural gas as the key fuel towards a cleaner energy production.
By 2019, Colombia had 1.4 billion barrels of proven reserves. Given that the energy industry is a key driver in economic growth in Barranquilla, finding new resources and bringing them into production is a main focus of the local government.
With four major discoveries made in the last five years, Barranquilla’s offshore sector has shown significant opportunity for growth, especially for natural gas. The government prides itself on its focus on exploring new areas and elevating the renewable energy sector with new wind and solar projects. Barranquilla is creating the first renewable utility in the country aiming to generate energy with solar panels for public buildings across the city.