Ecopetrol SA engages in the exploration, development, and production of crude oil and natural gas. It operates its business through the following segments: Exploration and Production; Transportation and Logistics; and Refining and Petrochemicals. The Exploration and Production segment deals with oil and gas exploration and production activities. The Transportation and Logistics segment comprises of pipelines and other transportation activities. The Refining and Petrochemicals segment involves refining activities and its products include motor fuels, fuel oils, and petrochemicals. The company was founded in 1948 and is headquartered in Bogota, Colombia.
Ecopetrol S.A. is Colombia’s largest oil and gas company, and is involved in every step of the hydrocarbon chain:
- Exploration and production: Ecopetrol explores for and produces oil and gas.
- Refining: Ecopetrol owns and operates refineries that produce petroleum products like gasoline, diesel, and kerosene.
- Transportation: Ecopetrol transports crude oil, motor fuels, and other refined products.
- Marketing: Ecopetrol markets its products.
Ecopetrol is headquartered in Bogotá, Colombia, and is majority owned by the Republic of Colombia. The company’s long-term strategy is called “Energy that Transforms” and focuses on reducing its carbon footprint and achieving zero net carbon emissions by 2050.
States Gulf Coast. The Company’s segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company’s Exploration and Production segment includes exploration, development and production activities in Colombia and abroad. The Company’s Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. The Company’s main crude oil pipeline systems’ operating capacity is approximately 1.34 million barrels per day (BPD). The Company’s main refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a subsidiary of the Company. The Company also owns and operates two other minor refineries: Orito and Apiay.
Number of employees: 18,903
Petrobras and Colombia’s state-run oil and gas company, Ecopetrol, have reported two major gas discoveries in the country’s offshore basins.
The finds by Brazil’s Petrobras in the Guajira Offshore Basin are estimated to hold around 6tcf of gas in place.
Petrobras said the discoveries at the Uchuva-1 and Uchuva-2 wells, now known as Sirius-1 and Sirius-2, indicate a substantial addition to Colombia’s gas reserves.
Petrobras, with a 44.4% operatorship stake, and Ecopetrol, with a 55.6% interest, jointly operate the Tayrona block where these wells are situated.
The Sirius-1 well is located in deep waters at a depth of 837m, approximately 32km from the coast and 76km from Santa Marta city.
The consortium plans to continue the development of the area, adhering to the contractual agreements with the National Hydrocarbons Agency. However, the commercial viability of the reserves will require further analysis and studies.