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Over 80% of investments will be concentrated in exploration and production, 90% of which will be in Colombia. Exploration will increase from about $ 250 million in 2018 to more than $ 460 million in 2019.
Ecopetrol has announced its intention to invest between US $ 3,500 and US $ 4,000 million next year, which represents an increase from 16% to 33% over the figure estimated for 2018.
The plan approved by the Board of Directors aims to ensure the growth and consolidation strategy of the Company, with an efficient, profitable and safe operation.
Investments have been prioritized with a focus on capital discipline and are focused on ensuring the future sustainability of the company by increasing reserves and oil production.
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 generating the greatest added value among its peers.
In line with the EGE's strategic priorities, the plan focuses on the disciplined growth of the exploration and production sector, to which 81% of the total investment will be allocated, which will enable production to reach a level of 730 000 barrels of oil equivalent per day (oil and gas) and the incorporation of proven reserves equivalent to 100% of oil and gas production.
92% of the total investments will go to projects in Colombia and the rest to the positioning of the Ecopetrol group in very promising basins in the United States, Mexico and Brazil.
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