BOGOTA,
Colombia, Dec. 30, 2024 /PRNewswire/ -- Ecopetrol
S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company") announces that on
Sunday, December 29, 2024, Ecopetrol
successfully concluded negotiations with Repsol to acquire the
remaining 45% of its stake in block CPO-09, located in the Meta
department. With this transaction, Ecopetrol becomes the sole owner
of this strategic asset in the Piedemonte Llanero.
This block is located in the municipalities of Villavicencio,
Acacías, Guamal, Castilla La Nueva, San Martín, Lejanías, El
Dorado, El Castillo, and Granada. The transaction was carried out
under the right of first refusal granted to Ecopetrol within the
framework of the Joint Operating Agreement (JOA) and is the result
of the previously announced transaction between Repsol and Geopark
on November 29.
With this acquisition, Ecopetrol expect to add approximately 41
million barrels to its reserves and estimates an increase in its
daily production by approximately 7,000 barrels of oil. This
operation strengthens Ecopetrol's position in the exploitation of
the Llanos Orientales basin and consolidates its presence in the
region.
To complete this transaction, it will be necessary to carry out
the corresponding procedures before the National Hydrocarbons
Agency and the Superintendency of Industry and Commerce, which we
expect to undertake in the coming days.
Ecopetrol reaffirms its commitment to the country's energy
future, highlighting the importance of hydrocarbons as a key
resource for energy sustainability, while steadily advancing
towards a fair and responsible energy transition.
Ecopetrol is the largest company in Colombia and one of the main integrated energy
companies in the American continent, with more than 19,000
employees. In Colombia, it is
responsible for more than 60% of the hydrocarbon production of most
transportation, logistics, and hydrocarbon refining systems, and it
holds leading positions in the petrochemicals and gas distribution
segments. With the acquisition of 51.4% of ISA's shares, the
company participates in energy transmission, the management of
real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the
international level, Ecopetrol has a stake in strategic basins in
the American continent, with Drilling and Exploration operations in
the United States (Permian basin
and the Gulf of Mexico),
Brazil, and, through ISA and its
subsidiaries, Ecopetrol holds leading positions in the power
transmission business in Brazil,
Chile, Peru, and Bolivia, road concessions in
Chile, and the telecommunications
sector.
For more information, please contact:
Head of Corporate Communications
Angela Maria De la
Pava Londoño
Email: investors@ecopetrol.com.co
Head of Press
Juan Pablo Pacavita
Email: juan.pacavita@ecopetrol.com.co
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SOURCE Ecopetrol S.A.