The find comes as Colombian gas reserves have fallen to critically low levels, and a recent court ruling halted operations in a major existing gas field.
Fitch says gpvernment-controlled enterprises may raise fiscal pressures and financing needs of governments that already face sizeable fiscal challenges.
"...and I say it once and for all, in projects of law that generate FORCED INVESTMENT in the private financial system of Colombia" - President Gustavo Petro
Ecopetrol is suffering from deteriorating corporate governance while the petroleum giant is led by Colombian President Gustavo Petro's political campaign manager.