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Joint operations

12 Months Ended

Dec. 31, 2023

Joint operations

Joint operations

31.Joint operations

The Ecopetrol Business Group carries out exploration and production operations through Exploration and Production (E&P) Contracts, Technical Evaluation (TEA) Contracts and Agreements signed with the National Hydrocarbons Agency or ANH, as well as through Partnership Contracts and other types of contracts.

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The main joint operations in 2023 are as follows:

31.1Contracts in which Ecopetrol Business Group is not the operator

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​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	%	​	Geographic area of
Partners		Contract		Type		Participation		operations
​	​	Chipirón	​	​	​	30-41%	​	​
SierraCol Energy Arauca, LLC		Cosecha		Production		30%	​	Colombia
​		Cravo Norte	​	​		55%	​	​
​		Rondón	​	​		50%	​	​
Frontera Energy Colombia Corp		Quifa		Production		40%	​	Colombia
​	​	​	​	​	​	Variable	​	​
Union Temporal Ismocol Joshi Parko	​	CPI Palagua	​	Production	​	Between 70% and 80%	​	Colombia
​	​	​	​	​	​	According amendment	​	​
Parex Resources Colombia LTD	​	Capachos LLA-122	​	Production Exploration	​	50%	​	Colombia
​	​	E&P COL 1	​	​	​	40%	​	​
Anadarko Colombia Company (OXY)	​	E&P COL 2	​	Exploration	​	40%	​	Offshore North Caribe
​	​	E&P COL 6	​	​	​	40%	​	​
​	​	E&P COL 7	​	​	​	40%	​	​
Petrobras	​	Tayrona	​	Exploration	​	55.6%	​	Offshore North Caribe
​		Fuerte Sur		​		50%	​	​
Shell EP Offshore ventures Limited	​	Purple Angel	​	Exploration	​	50%	​	Offshore North Caribe
​	​	Col-5	​	​	​	50%	​	​
​	​	Mana	​	​	​	30%	​	​
Interoil Colombia	​	Rio Opia	​	Production	​	30%	​	Colombia
​	​	Ambrosia	​	​	​	30%	​	​
​	​	Llanos 86	​	​	​	50%	​	​
​	​	Llanos 87	​	​	​	50%	​	​
Geopark Colombia SAS	​	Llanos 104	​	Exploration	​	50%	​	Colombia
​	​	Llanos 123	​	​	​	50%	​	​
​	​	Llanos 124	​	​	​	50%	​	​
​	​	SSJN1	​	Production	​	50%	​	​
​	​	Perdices	​	​	​	50%	​	​
Lewis Energy Colombia	​	VIM-42	​	Exploration	​	50%	​	Colombia
​	​	SSJN3-1	​	​	​	50%	​	​
Quarter North Energy		Gunflint		Production		32%	​	Gulf of Mexico
Murphy Exploration and Production Company – USA	​	Dalmatian	​	Production	​	30%	​	Gulf of Mexico
OXY (Anadarko) - K2	​	K2	​	Production	​	21%	​	Gulf of Mexico
HESS	​	ESOX	​	Production	​	21%	​	Gulf of Mexico
​		S-M-1709		​		30%	​	​
​	​	S-M-1908	​	​	​	30%	​	​
​		S-M-1601		​		30%	​	​
Shell	​	S-M-1713	​	Exploration	​	30%	​	Brazil
​	​	S-M-1817	​	​	​	30%	​	​
​	​	S-M-1599	​	​	​	30%	​	​
​	​	S-M-1910	​	​	​	30%	​	​
​	​	Sul de Gato do Mato	​	​	​	30%	​	​
​	​	BM-S-54	​	​	​	30%	​	​
BP Energy	​	Pau Brasil	​	Exploration	​	20%	​	Brazil
Chevron	​	CE-M-715	​	Exploration	​	50%	​	Brazil
​	​	PAMA-M-187	​	​	​	30%	​	​
​	​	PAMA-M-188	​	​	​	30%	​	​
Petrobras	​	PAMA-M-222	​	Exploration	​	30%	​	Brazil
​	​	PAMA-M-223	​	​	​	30%	​	​
​	​	BM-C-44	​	​	​	38%	​	​
​	​	BM-S-74	​	​	​	13%	​	​
Anadarko	​	BM-C-29	​	Exploration	​	50%	​	Brazil
Repsol	​	BM-ES-29	​	Exploration	​	30%	​	Brazil
ONGC	​	BM-S-73	​	Exploration	​	13%	​	Brazil
​	​	BM-S-63	​	​	​	30%	​	​
Vanco	​	BM-S-71	​	Exploration	​	30%	​	Brazil
​	​	BM-S-72	​	​	​	30%	​	​
Occidental Midland Basin, LLC (Oxy)	​	Rodeo Midland Basin	​	Production	​	49%	​	Midland, Texas, USA
Pemex Exploration y Production	​	Bloque 8	​	Exploration	​	50%	​	Gulf of Mexico
PC Carigali Mexico Operation SA	​	Bloque 6	​	Exploration	​	50%	​	Gulf of Mexico

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31.2Contracts in which Ecopetrol Business Group is the operator

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​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	%	​	Geographic area of
Partners		Contract		Type		Participation		operations
​		VMM29	​	​		50%	​	​
​		CR2	​	​	​	50%	​	​
ExxonMobil Exploration Colombia		C62	​	Exploration	​	50%	​	Colombia
​	​	KALE	​	​	​	100%	​	​
Repsol Colombia SA		CPO9	​	Exploration		55%	​	Colombia
CPVEN E&P Corp Sucursal Colombia		VMM32	​	Exploration		51%	​	Colombia
Repsol Exploration Colombia S.A.		Catleya	​	Exploration		50%	​	Colombia
Emerald Energy PLC Suc. Colombia		Cardon	​	Exploration		50%	​	Colombia
Parex Resourses Colombia Ltd.		ORC401 CRC-2004-01	​	Exploration		50%	​	Colombia
Repsol Colombia Oil & Gas Limited	​	CPO9 – Akacias	​	Production	​	55%	​	Colombia
SierraCol Energy Arauca, LLC		La Cira Infantas	​	Production		52%+PAP	​	Colombia
​		Teca	​	​		100% Basic 60% incremental	​	​
Total Colombie	​	​	​	​	​	​	​	​
Talisman Oil & Gas	​	Mundo Nuevo	​	Exploration	​	15%	​	Colombia
Total Colombie		​	​	​		​	​	​
Talisman Oil & Gas	​	Niscota**	​	Exploration	​	20%	​	Colombia
Emerald Energy	​	Oleoducto Alto Magdalena	​	Production	​	45%	​	Colombia
Frontera Energy	​	​	​	​	​	​	​	​
Perenco Oil and Gas	​	San Jacinto Rio Paez	​	Production	​	68%	​	Colombia
Cepsa Colombia		​	​	​		​	​	​
Lewis Energy Colombia	​	Clarinero**	​	Exploration	​	50%	​	Colombia

**Fields in abandonment process.

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The Group acquires investment commitments at the moment of receiving the exploration and/or exploitation rights of a determined area by the competent authority. As of December 31, 2023, investment commitments with the ANH reach USD $802.3 million (2022 - USD $805,6 million).

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Ecopetrol Permian LLC has commitments related to the five-year business plan in the Permian Basin under the Rodeo Midland Basin LLC formation agreement, which may be modified annually by contract members, and Ecopetrol América LLC commitments derived from the joint operations in the Gulf of Mexico through authorizations for expenditures (AFEs) for projects of both a capital nature and operating expenses.

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- Definition

The disclosure of joint operations. [Refer: Joint operations [member]]

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-Number 12
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