Colombian Ecopetrol Announced Plans to Invest Up to $6.7 Billion and Produce Up to 730,000 bpd in 2024
Colombian state oil company Ecopetrol said it plans to invest between $5.7 billion and $6.7 billion and produce up to 730,000 b/d in 2024.
The majority of these costs, about $4.8 billion, will go towards maintaining production at 725,000 to 730,000 boe/d, the company’s refineries at 420,000 to 430,000 b/d and transportation at more than 1 million b/d. , Ecopetrol said in a statement.
The plan includes 360 production and 15 exploration wells.
About 42% of the spending plan will focus on the energy transition, including low emissions, decarbonization, electricity transmission and natural gas supplies, the statement said.
Ecopetrol plans to increase the efficiency of its operations by approximately 7 trillion. pesos over the next three years, it said.
Investments between 2024 and 2026 will reach about 80 trillion pesos, or about $20 billion, said CEO Ricardo Roa.
