Tag

The move improves Ecopetrol's Llanos Orientales basin presence.

Along with an average reserve life of 7.6 years, Ecopetrol reported net profit of 19.1 trillion Colombian pesos.

Ecopetrol announced a record increase in revenue for 2022, and shared the progress of some of their programs looking into the future.

By the end of 2020, the Ecopetrol Group's net proven reserves totalled 1,770 million barrels of oil equivalent (MBOE), which represents a 6.5% decrease versus 2019 (1,893 MBOE). The reserves replacement ratio was 48%, with an average reserve life of 7.5 years.