Ecopetrol will invest between 3 billion and 4 billion US dollars in 2019

Ecopetrol announced Tuesday that in 2019, it plans to invest between $ 3,500 and $ 4,000 million, an increase of 16% to 33% over the figure estimated for 2018.

This has been confirmed by the entity in a statement in which it ensures that the plan approved by the board of directors is aimed at ensuring the company's growth and consolidation strategy, with a holding efficient, profitable and safe.

"Investments have been prioritized with a focus on capital discipline and aim to ensure the future sustainability of the company by increasing reserves and oil production," he said in the text.

In addition, he explained that the plan had been developed with Brent price forecasts ranging from USD 55 to USD 65 per barrel. The equilibrium price at which the company would generate a positive net profit in 2019 remains around 36 USD per barrel, which shows the company's resistance to fluctuations in the oil price cycle. "The plan aims to guarantee an average return on capital employed (Roace) of more than 10%, which will allow Ecopetrol to remain one of the companies offering the greatest added value among its peers," he said. -he adds.

On the other hand, in line with the strategic priorities of the EGE, the plan focuses on the disciplined growth of the exploration and production sector, to which 81% of the total investments will be allocated, which will enable the production to reach a level between 720,000 and 730,000 barrels of oil equivalent per day (oil and gas), and the incorporation of proved reserves equivalent to 100% of oil and gas production .

For the Barrancabermeja and Cartagena refineries, the projection is expected to be between 350,000 and 375,000 barrels a day. The growing integration between the two refineries and the badessment of profitable opportunities for a greater supply of clean fuels in the country will continue, the company said.

For its part, Ecopetrol has ensured that 2019 would be a year of strong activity in the various fields of activity. It highlights the drilling of more than 700 development wells, at least 12 exploration wells on the mainland of Colombia, the acquisition of more than 50,000 kilometers of seismic data and the development of 15 pilot projects for improved recovery.

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