A major Colombian oil producer is set to come under a Filipino energy investor. Enrique Razon Jr., through Prime Infrastructure Capital Inc., has agreed to acquire SierraCol Energy Ltd., Colombia’s largest independent oil and gas company.
The firm accounts for roughly 10 percent of Colombia’s total oil output and produces about 77,000 barrels of oil equivalent per day. The deal, reportedly valued at around $1.5 billion, is expected to close this month pending regulatory approvals.
The agreement transfers the entire stake of private equity group Carlyle in SierraCol to Prime Infrastructure. SierraCol operates major oil fields including Caño Limón and La Cira Infantas. These fields produce high-quality crude and connect to established export infrastructure.
The acquisition marks a significant overseas expansion for Razon’s infrastructure company. Prime Infrastructure has built a large energy portfolio in the Philippines. Its assets include the Malampaya deep water gas-to-power project, the country’s only indigenous natural gas field.
“This acquisition strengthens our oil and gas expertise and complements our existing asset base in the Philippines,” Prime Infra president and CEO Guillaume Lucci, on expanding the company’s global energy operations through the SierraCol transaction.
SierraCol’s operations span 14 producing blocks with additional exploration areas across Colombia. The company currently holds about 129 million barrels of proven and probable reserves. Its reserve base supports an estimated production life of roughly 10 years.
Analysts said the move comes at a critical moment for global energy markets. Rising geopolitical tensions and supply risks have placed greater attention on oil sources outside the Middle East. SierraCol’s production offers exposure to crude supply in Latin America, adding a new international asset to Razon’s growing energy portfolio.
