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Supplemental information on oil and gas producing activities (unaudited) - Results of operations for oil and gas exploration and production activities (Details) - COP ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net revenues      
Sales $ 66,258,193 $ 71,223,307 $ 50,631,272
Transfers 15,256,723 19,797,158 12,617,680
Total 81,514,916 91,020,465 63,248,952
Production costs [1] 20,544,682 22,152,495 12,554,338
Depreciation, depletion, and amortization [2] 8,531,483 7,138,902 6,623,891
Other production costs [3] 22,751,720 20,741,550 21,156,904
Exploration costs [4] 2,088,922 1,512,385 960,247
Other expenses [5] 7,508,085 5,399,726 3,090,128
Total 61,424,892 56,945,058 44,385,508
Income before income tax expense 20,090,024 34,075,407 18,863,444
Income tax expense (9,250,450) (13,026,271) (5,652,743)
Results of operations for exploration and production activities $ 10,839,574 $ 21,049,136 $ 13,210,701
[1] Production costs are lifting costs incurred to operate and maintain productive wells and related equipment and facilities including costs such as operating labor, materials, supplies, and fuel consumed in operations and the costs of operating natural gas liquids plants. In addition, they include expenses related to the asset retirement obligations that were recognized during 2023, 2022 and 2021 of $477,511, $333,683, and $292,329, respectively.
[2] In accordance with IAS 37, the expense related to asset retirement obligations that were recognized during 2023, 2022 and 2021 in depreciation, depletion, and amortization, were $438,675, $768,466, and $887,725, respectively.
[3] Includes transportation costs and naphtha that are not part of the Ecopetrol Business Group’s lifting cost.
[4] Exploration expenses include the costs of geological and geophysical activities, as well as the non–productive exploratory wells.
[5] Corresponds to administration, marketing expenses, and impairment.