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.
Ecopetrol S.A. is Colombia’s largest oil and gas company, playing a key role in every stage of the hydrocarbon value chain. Established in 1948 and headquartered in Bogotá, Colombia, Ecopetrol is majority-owned by the Colombian government. The company’s operations span the following segments:
Key Business Segments
- Exploration and Production
- Engages in oil and natural gas exploration and production activities both domestically and internationally.
- Transportation and Logistics
- Operates extensive pipeline networks and other transportation infrastructure, with a crude oil pipeline capacity of approximately 1.34 million barrels per day.
- Refining, Petrochemicals, and Biofuels
- Owns and operates major refineries, including Barrancabermeja and Cartagena (operated by its subsidiary Reficar S.A.), along with smaller refineries like Orito and Apiay.
- Produces motor fuels, fuel oils, petrochemicals, and biofuels.
- Marketing
- Handles the marketing and distribution of its refined products and derivatives.
Strategic Focus
Ecopetrol is committed to sustainability through its “Energy that Transforms” strategy, targeting carbon neutrality by 2050 while reducing its environmental impact across operations.
Offshore Discoveries
In collaboration with Brazil’s Petrobras, Ecopetrol reported significant offshore gas discoveries in Colombia’s Guajira Offshore Basin. The Uchuva-1 and Uchuva-2 wells (renamed Sirius-1 and Sirius-2) are estimated to hold approximately 6 trillion cubic feet of gas. Located 32 km off the coast and 76 km from Santa Marta in deep waters at 837 meters, these discoveries are part of the Tayrona block, operated jointly by Petrobras (44.4%) and Ecopetrol (55.6%). Further analysis is underway to determine the commercial viability of these reserves.
Workforce
Ecopetrol employs approximately 18,903 individuals globally, underscoring its role as a vital player in the energy sector and a key contributor to Colombia’s economy.