BOGOTA,
Colombia, Feb. 5, 2025 /PRNewswire/ -- Ecopetrol
S.A. (BVC: ECOPETROL; NYSE: EC) informs that on February 5, 2025, it successfully completed the
transaction with Repsol Colombia Oil & Gas Limited ("Repsol")
to acquire the remaining 45% of its participation in the
CPO-09 Block, for an amount of 452 million
USD, making it the holder of 100% of the participation
interest in the block, a strategic asset in the Piedemonte Llanero
This transaction is the result of the exercise of the right of
first refusal by Ecopetrol, within the framework of the Joint
Operation Agreement (JOA).
The closing of this transaction occurred after the fulfillment
of the following conditions precedent: i) the determination made by
the Superintendency of Industry and Commerce of Colombia, stating that the transaction "(…)
does not generate an undue restriction of competition so it does
not merit objection or conditioning" (…)", thus ending the
administrative pre-evaluation process; and ii) the execution of the
corresponding amendment to the Hydrocarbon Exploration and
Production Contract CPO-09 on February 5,
2025, by the National Hydrocarbons Agency, Repsol and
Ecopetrol, which formalized the transfer of the 45% of the
participation interest that Repsol had in that agreement in favor
of Ecopetrol.
The CPO-09 block is located in the department of Meta,
Colombia, in the municipalities of
Villavicencio, Acacias, Guamal, Castilla la Nueva, San Martín,
Lejanias, El Dorado, El Castillo and Granada.
This transaction strengthens Ecopetrol's position in the
exploration and production of hydrocarbons in the Llanos Orientales
basin and consolidates its presence in the region, as the operator
of the Akacias, Chichimene, Castilla, Apiay, Suria, Libertad -
Reforma, Pachaquiaro, Caño Sur fields, among others. Likewise, it
reaffirms its commitment to the country's energy future,
highlighting the importance of hydrocarbons as a key resource for
the development of energy transition projects, ensuring the
country's energy sustainability.
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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 Mexico, 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.
This release contains statements that may be considered
forward-looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933, as amended, and Section 21E of the
U.S. Securities Exchange Act of 1934, as amended. All
forward-looking statements, whether made in this release or in
future filings or press releases, or orally, address matters that
involve risks and uncertainties, including in respect of the
Company's prospects for growth and its ongoing access to capital to
fund the Company's business plan, among others. Consequently,
changes in the following factors, among others, could cause actual
results to differ materially from those included in the
forward-looking statements: market prices of oil & gas, our
exploration, and production activities, market conditions,
applicable regulations, the exchange rate, the Company's
competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend and do not assume any obligation to update
these forward-looking statements.
For more information, please contact:
Head of Capital Markets
Carolina Tovar
Aragón
Email:
investors@ecopetrol.com.co
Head of Corporate Communications (Colombia)
Marcela Ulloa
Email:
marcela.ulloa@ecopetrol.com.co
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SOURCE Ecopetrol S.A.
