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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.

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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.

Production was also up 4.1% over February of this year due to the reopening of several oilfields.

Ecopetrol claimed proven reserves of 1.659 billion barrels of oil equivalent at the end of 2017, up from the 1.598 billion barrels in 2016.

The terrorist actions in recent months against the infrastructure of Ecopetrol, has been compounded by another recent menace: theft of copper cables that supply electrical power to oil wells. So far in 2015, Ecopetrol has reported 393 thefts of copper wire in three production...