Ecopetrol announces the completion of the transaction with Repsol to acquire 45% of its participation in Block CPO-09 – Ecopetrol (NYSE:EC)

BOGOTA, Colombia, Feb. 5, 2025/ PRNewswire/– Ecopetrol S.A. ( ECOPETROL EC notifies that on February 5, 2025, it effectively finished the deal with Repsol Colombia Oil & & Gas Limited (” Repsol”) to obtain the staying 45% of its involvement in the CPO-09 Block, for a quantity of 452 million USD, making it the holder of 100% of the involvement interest in the block, a tactical property in the Piedemonte Llanero This deal is the outcome of the workout of the right of very first rejection by Ecopetrol, within the structure of the Joint Operation Arrangement (JOA).

The closing of this deal took place after the satisfaction of the list below conditions precedent: i) the decision made by the Superintendency of Market and Commerce of Colombia, mentioning that the deal “( …) does not create an excessive constraint of competitors so it does not benefit objection or conditioning” (…)”, hence ending the administrative pre-evaluation procedure; and ii) the execution of the matching modification to the Hydrocarbon Expedition and Production Agreement CPO-09 on February 5, 2025, by the National Hydrocarbons Company, Repsol and Ecopetrol, which formalized the transfer of the 45% of the involvement interest that Repsol had in that arrangement in favor of Ecopetrol.

The CPO-09 block lies in the department of Meta, Colombia, in the towns of Villavicencio, Acacias, Guamal, Castilla la Nueva, San Martín, Lejanias, El Dorado, El Castillo and Granada.

This deal enhances Ecopetrol’s position in the expedition and production of hydrocarbons in the Llanos Orientales basin and combines its existence in the area, as the operator of the Akacias, Chichimene, Castilla, Apiay, Suria, Libertad – Reforma, Pachaquiaro, Caño Sur fields, to name a few. Also, it declares its dedication to the nation’s energy future, highlighting the significance of hydrocarbons as an essential resource for the advancement of energy shift tasks, making sure the nation’s energy sustainability.

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Ecopetrol is the biggest business in Colombia and among the primary integrated energy business in the American continent, with more than 19,000 workers. In Colombia, it is accountable for more than 60% of the hydrocarbon production of the majority of transport, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas circulation sections. With the acquisition of 51.4% of ISA’s shares, the business takes part in energy transmission, the management of real-time systems (XM), and the Barranquilla – Cartagena seaside highway concession. At the global level, Ecopetrol has a stake in tactical basins in the American continent, with Drilling and Expedition 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 service in Brazil, Chile, Peru, and Bolivia, roadway concessions in Chile, and the telecom sector.

This release includes declarations that might be thought about positive declarations within the significance of Area 27A of the U.S. Securities Act of 1933, as modified, and Area 21E of the U.S. Securities Exchange Act of 1934, as modified. All positive declarations, whether made in this release or in future filings or news release, or orally, address matters that include threats and unpredictabilities, consisting of in regard of the Business’s potential customers for development and its continuous access to capital to money the Business’s service strategy, to name a few. As a result, modifications in the list below elements, to name a few, might trigger real outcomes to vary materially from those consisted of in the positive declarations: market value of oil & & gas, our expedition, and production activities, market conditions, suitable policies, the currency exchange rate, the Business’s competitiveness and the efficiency of Colombia’s economy and market, to discuss a couple of. We do not plan and do not presume any responsibility to upgrade these positive declarations.

For additional 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.