• Includes nine production assets: three located in the Middle Magdalena Valley basin (Tenerife, San Luis and Lebrija), three in the Upper Magdalena Valley basin (Toy, Totare and Andalucía) and three in the Llanos basin (Upía, La Punta and Rancho Hermoso).
• The asset portfolio included in this round provides the option of an early incorporation of production and reserves, in addition to primary and secondary development options. Moreover, certain assets have exploration opportunities.
• This asset divestment process is part of regular portfolio rotation activities and is aligned with the principles of the Ecopetrol Group's strategy: strict capital discipline, cash protection, cost efficiency and profitable growth.
• The auction will be held in the fourth quarter of the year with the companies that register and meet the qualification requirements.

The Ecopetrol Group has launched the Ronda Campos Ecopetrol 2020, offering its entire stake in nine development and production assets. This auction is open to representatives of national and international companies wishing to strengthen their position in Colombia or wanting to expand their national operations.

This asset portfolio offers the possibility of incorporating over 3,000 barrels of oil and gas per day and an estimated volume of 17 million barrels of oil equivalent (mmboe) of 3P reserves, including 11 mmboe of proven reserves. Additionally, the assets have contingent resource development opportunities estimated at 13 mmboe, with a projected exploration potential of 35 mmboe in prospective resources.

The process will take place through an electronic auction using an upward-bidding methodology. Companies that meet the National Hydrocarbon Agency’s current qualification requirements for this category of assets may participate. This auction is scheduled for the last quarter of this year.

“This Ronda offers other sector companies access to assets with production and reserves development opportunities, and their investments will generate employment and contribute towards reactivating the sector as well as the regional and national economies. We therefore invite the industry in general to actively participate in this process,” stated the CEO of Ecopetrol, Felipe Bayón Pardo.

KeyFacts Energy: Ecopetrol Colombia country profile

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