“Before talking about transition, we must ensure sufficient, reliable, and affordable energy”

At a decisive moment for Colombia's energy security and the region, Felipe Bayón, one of the most influential leaders in the sector in Latin America, former president of Ecopetrol and now CEO of GeoPark, reflects on the role of hydrocarbons in a world transitioning towards decarbonization, the challenges of the energy transition in the country, and the importance of promoting fair and sustainable territorial development.

ACP: In a global context marked by volatility, geopolitical uncertainty, and the need to decarbonize economies, how do you define the concept of energy security today and what role do hydrocarbon-producing countries play?

Felipe Bayón: Energy security is not a static concept. It has to do with ensuring that people and economies have access to reliable, affordable, and increasingly clean energy. In that sense, hydrocarbon-producing countries still play a central role. Not only because we still provide the majority of the energy that the world needs, but because we are part of the solution.

The enemy is not the energy source; it is the emissions. The real challenge is to produce better, with lower impacts and with a long-term vision. The transition is not about abandoning some sources to adopt others, but about building an integrated, diversified, and resilient energy system.

Ultimately, energy security is sustained when we achieve that balance: energy for development, with environmental responsibility and a sense of the future. And for that, the transition must be orderly.

ACP: From your experience leading companies in the sector, how do you envision the role of Latin America, considering its energy potential, in a world transitioning towards decarbonization, but still dependent on hydrocarbons for its development?

FB: Latin America must turn its energy potential into a competitive advantage to close gaps and create opportunities. It is not a matter of rhetoric: the numbers speak for themselves.

2025 a historic record of more than 560 thousand barrels per day of oil, consolidating itself as one of the main unconventional deposits in the world.

These figures reflect the magnitude of regional potential, but also the technical, operational, and management capacity we have built in Latin America. And this is not limited to hydrocarbons: the region concentrates nearly 55,57% of the world's lithium reserves, has enormous solar and wind resources, and one of the cleanest electricity matrices on the planet, with more than 60 % coming from renewable sources.

All of this shapes a unique opportunity. If we are able to integrate that portfolio —conventional, renewable, and mineral— Latin America can be a decisive player in the global energy transition. The challenge is not to give up what we have, but to use it better: to produce with lower emissions, with technology, with transparency, and with a clear purpose of development.

ACP: Although the energy transition is in public debate, there do not seem to be many advances in the country. From your perspective, what do you consider to be the biggest challenge for this process to occur in an orderly, technical, and fair manner?

FB: The biggest challenge is to move from discourse to execution. The energy transition is not decreed; it is built with planning, investment, and coherence, and it must be done in an orderly manner.

Each country must follow its own path. In Colombia, we have a clean matrix, but vulnerable to climate, and a significant lag in the development of new sources. In solar, we are incorporating only about 10 or 15% of what is projected, and wind projects continue to face delays.

Therefore, before talking about transition, we must ensure sufficient, reliable, and affordable energy. Natural gas is key to achieving this: it is firm, complements renewables, and provides stability to the system.

The transition must be fair. Access to energy is one of the most powerful ways to close the gaps we have. It cannot leave behind regions or jobs, nor put energy security at risk. The enemy is not the energy source; it is the emissions. And we must act on that with technical rigor, evidence, and a long-term vision.

ACP: How can the country build a responsible energy addition process, an energy strategy that combines sustainability (social, environmental, and economic), security, and competitiveness, avoiding short-term decisions that compromise its present and future?

FB: I believe that the first thing is to have a long-term energy strategy, not short-term decisions. Energy cannot change course every four years.

We have to balance three things: sustainability, security, and competitiveness. And within that, energy sovereignty is key. It makes no sense to import what we can responsibly produce in Colombia. If we develop our resources well, with technique and environmental care, that gives us resources, stability, jobs, and confidence.

The transition is not about going faster, but about doing it right. To ensure enough energy today while we build the future with a clear and coherent vision. The transition is not a destination, it is a path we are walking.

ACP: The private sector has played a decisive role in maintaining investment, production, and confidence in the country, even in difficult circumstances. What message do you have for companies that continue to bet on Colombia and what message for the country about the importance of maintaining such investments?

FB: This is an industry that has always lived in cycles. Prices go up, down... and go up again. We do not control that. What we do control is how we do things: with efficiency, with responsibility, with safety, and with a deep commitment to Colombia.

The private sector has been fundamental in maintaining investment, production, and confidence, even in the most difficult times. And that demonstrates enormous resilience.

My message is simple: let’s keep believing in Colombia. Let’s keep investing, working rigorously, and building trust every day. Because energy is fundamental for the growth of the country's economy and when produced well, it becomes progress and opportunities for the Nation and its regions.

ACP: Currently, both in Congress and in the Government, there are initiatives that seek to exclude hydrocarbon exploration and production activities in the Amazon. In this regard, how do you see the debate between conservation and development, and what role does the industry play in protecting strategic ecosystems while ensuring energy security?

FB: This is a topic that must be addressed with technical rigor and criteria. The Amazon is an ecosystem that we must protect, but we also have to guarantee the country's energy security. It is not about choosing between conservation or development, but about making informed decisions, with science, traceability, and good planning. Only then can we care for the territory and ensure the energy that Colombia needs.

From the private sector, we must be willing to support and collaborate with the authorities, to care for our workers, and to continue betting on the country. Security is not imposed, it is built. And it is built with presence, dialogue, and results.

ACP: Security in the territories is a major challenge for the country and for the industry. What do you consider necessary to move towards a safer environment that protects communities, workers, energy infrastructure, and provides confidence for investment?

FB: It is clear that there has been a deterioration in security in some areas of the country. This is felt in day-to-day life and is concerning because it affects people and economic activity. What is important now is to regain trust, be present in the territories, and work in a coordinated manner.

From the private sector, we must be willing to support and collaborate with the authorities, to care for our workers, and to continue betting on the country. Security is not imposed, it is built. And it is built with presence, dialogue, and results.

ACP: Social conflict has become a structural challenge for the industry. What lessons has your experience left you on how to build trust and cooperation with local communities and authorities to transform conflict into opportunities for shared development?

FB: I have seen it many times: when one is in the territory, things change. Tensions decrease, conversation opens up, and solutions appear. Social conflict is not managed from an office; it is worked on with presence, listening, and coherence. Communities do not expect speeches; they expect actions.

I have learned that trust cannot be delegated. One must be present, fulfill commitments, and respect. When communities feel that projects bring them value, the dynamic changes: it shifts from conflict to cooperation. And when that happens, development stops being a concept and becomes something tangible, shared, and real.

ACP: Now that GeoPark has taken on assets in Vaca Muerta, how do you evaluate the role of fracking and unconventional reservoirs in the energy security of Latin America, and what lessons could serve Colombia for a more technical and less ideological discussion around the topic?

FB: I was struck by the fact that the latest oil barometer showed an increase in support for the development of unconventional reservoirs in Colombia. And I think it's a good sign because we are starting to talk about the topic with more technicality and less ideology.

In Argentina, I saw it up close. When I worked there around 2005, the country had to suspend gas exports; today, thanks to Vaca Muerta, it has an energy surplus. Production has quadrupled since 2019 and could triple again in the next six years, with nearly 55 billion dollars already invested and proven infrastructure. Neuquén, which a few years ago depended on the national budget, is now one of the most prosperous provinces in Argentina, with jobs, royalties, and sustained investment.

At GeoPark, we already have a team with experience in unconventional resources that is now operating in the black oil window of Vaca Muerta, and it will capitalize on this knowledge and experience to contribute to the conversation about the potential we have in Colombia. It is a unique position from which we will bring science and technical depth for the benefit of the country.

ACP: In light of the current situation, what implications would it have for the country's energy and fiscal security to give up exploring unconventional resources?

FB: The truth is I am optimistic. There are more and more people, sectors, and leaders who view the responsible development of unconventional resources as a real alternative to reverse the gas deficit we have.

If we decided not to explore them, the country would lose a lot. Not only fiscal revenues and investment but also the possibility of producing here what we would end up importing at a much higher cost. And the truth is that the millions of families who cook with gas or the thousands of Colombians who use their motorcycles for work will continue to need that energy every day.

That’s why, more than talking about what we could lose, I prefer to think about what we can gain. I trust that we do not leave buried a resource that can change our energy future in the short term, if we do it with technique, responsibility, and a vision for the country.

ACP: What have been your most valuable learnings about managing a company in the hydrocarbons sector, both state-owned, if we remember your time at Ecopetrol, and private in an energy transformation, diversification, innovation, and efficiency environment?

FB: I have been fortunate to see this industry from different places and besides immense gratitude to colleagues and teams, it leaves many lessons. At Ecopetrol, I learned the value of the public sector, of working for a country. In the private sector, I have seen the importance of agility, efficiency, and innovation. When one manages to unite those two visions—purpose and execution—organizations become stronger.

But if I have learned anything, it is that everything is sustained by culture. In how things are done when no one is watching. In trust, in respect, in safety, in caring for people and doing the right thing, always. In the end, culture is what differentiates a good company from a company that leaves a mark.

There are more and more people, sectors, and leaders who view the responsible development of non-conventional resources as a real alternative to reverse the gas deficit we have.

ACP: In the framework of the 60th anniversary of the ACP, what message do you give to the sector and the country about the role that the industry should play in the future of Colombia and what message do you leave for future generations that will lead the energy of the future?

FB: The role of this industry remains fundamental. Colombia needs energy to grow, and we have the capacity and commitment to produce it well. With responsibility, with technique, and with a deep respect for the country and for the communities.

To the new generations, I would say that this sector is not from the past, it is from the future. That energy changes, but the purpose remains the same: to serve, to transform, and to leave things better than we found them. If we do that, with ethics and pride, this industry will continue to be a force that drives Colombia.