Colombia’s New Ambitions Include Caribbean and Shale Development, But Are They Achievable? Colombia is walking a thin line between becoming another fading petroleum province and Latin America’s next big success story. Its aces in the hole: unleashing its nascent offshore and unconventional sectors. Colombia now counts Repsol, ExxonMobil, Shell, and Noble Energy as companies committed to exploration in its portion of the Caribbean Sea. Noble’s farm-in to blocks recently awarded to Shell marks the Houston-based independent’s entry into Colombia, where the government hopes to boost offshore exploration.