BOGOTA,
Colombia, Aug. 10, 2022 /PRNewswire/ --
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that the
Gorgon-2 well proved the presence of gas in ultra-deep waters in
the southern Colombian Caribbean, confirming the importance of this
province for gas exploration in this area of the
country.
The well is located 70 kilometers off the coast and is the
deepest well drilled in Colombian waters to the seabed
(approximately 2,400 meters).
The drilling of the well, located in the Col-5 block,
confirms the extension of the gas discovery made in 2017 in
Gorgon-1. The Kronos (2015) and Purple Angel (2017) discoveries
were also made in this gas province.
Ecopetrol and Shell (operator) are partners in the
South Caribbean blocks (Col-5,
Fuerte Sur, and Purple Angel), with
50% participation each.
The development of this gas province in the southern
Caribbean could significantly
contribute to supporting the country's energy security and opens
the possibility of future gas exports, a fundamental energy source
for the energy transition that Ecopetrol has been
developing.
Ecopetrol is the largest company in Colombia and one of the main integrated energy
companies in the American continent, with more than 18,000
employees. In Colombia, it is
responsible for more than 60% of the hydrocarbon production of most
transportation, logistics, and hydrocarbon refining systems, and it
holds leading positions in the petrochemicals and gas distribution
segments. With the acquisition of 51.4% of ISA's shares, the
company participates in energy transmission, the management of
real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the
international level, Ecopetrol has a stake in strategic basins in
the American continent, with Drilling and Exploration operations in
the United States (Permian basin
and the Gulf of Mexico),
Brazil, and Mexico, and, through ISA and its subsidiaries,
Ecopetrol holds leading positions in the power transmission
business in Brazil, Chile, Peru,
and Bolivia, road concessions in Chile, and the telecommunications sector. This
press release contains business prospect statements, operating and
financial result estimates, and statements related to Ecopetrol's
growth prospects. These are all projections and, as such, they are
based solely on the expectations of the managers regarding the
future of the company and their continued access to capital to
finance the company's business plan. The realization of said
estimates in the future depends on the behavior of market
conditions, regulations, competition, and the performance of the
Colombian economy and the industry, among other factors, and are
consequently subject to change without prior notice.
This release contains statements that may be considered
forward-looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933, as amended, and Section 21E of the
U.S. Securities Exchange Act of 1934, as amended. All
forward-looking statements, whether made in this release or in
future filings or press releases, or orally, address matters that
involve risks and uncertainties, including in respect of the
Company's prospects for growth and its ongoing access to capital to
fund the Company's business plan, among others. Consequently,
changes in the following factors, among others, could cause actual
results to differ materially from those included in the
forward-looking statements: market prices of oil & gas, our
exploration, and production activities, market conditions,
applicable regulations, the exchange rate, the Company's
competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend and do not assume any obligation to update
these forward-looking statements.
For more information, please contact:
Head of Capital Markets
Tatiana Uribe
Benninghoff
Email:
investors@ecopetrol.com.co
Head of Corporate Communications
Mauricio Téllez
Email:
mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.