Commission file number: Table 8 – Ecopetrol S.A. Production per Type of Crude Graph 6 – Map of Multipurpose Pipeline. Estimated Ultimate Recovery versus Net Pay by Well Type RPS has updated the mapping of oil initially in place (OIIP) for the field to a new total of 4, . New well locations and new well logs (LAS files) for the 29 vertical wells drilled Ecopetrol‟s field production will be sold in the pipeline together, the gross field. Note: Checking the box above will not relieve any registrant required to file reports .. Ecopetrol Transportation Company Limited, Ecopetrol Pipelines International .. Since we have no control over these types of foreign government regulations, they The map below indicates the location of our operations in Colombia.
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Based on these past delays, we are unable to determine when we will collect the amount of any fuel price differentials that become due in the future. Holders of our ADSs may not be able to effect service of process on us, our directors or executive officers within the United States, which may piepline your recovery in any foreign judgment you obtain against us. To date, we have licensed a total of 16 technologies. Consolidated Companies million barrels oil equivalent.
We may be required to enter eckpetrol agreements with natural gas transportation companies in terms that are not favorable to us. This table does not include the wells that were under evaluation as of the date of disclosure. The purchase price is calculated based on international market prices.
Prospective purchasers of our shares represented by American Depositary Receipts or ADRs should carefully consider the risks described below, as well as other information contained in this annual report, before deciding to invest in our ADRs.
The growth was mainly the result of the stability of the unit during as compared to the scheduled turnaround of the unit in We continue purchasing all crude oil delivered to the ANH as royalties by us and by third parties. As a result, contracts that were executed prior to the issuance of a new contractual regime remain in full force and are not affected by the new regime put in place subsequently. We expect to fund our strategic initiatives mainly through cash on hand and cash flow from operating activities.
Our exploration activities expose us to the inherent risks of drilling, including the risk that we will not discover commercially productive crude oil or natural gas reserves. The volume of oil spills was barrels ina decrease from barrels in and barrels in The following table sets forth, for the tyle and at the dates indicated, our selected historical financial and certain key operating data.
Internal demand for natural gas has experienced strong growth during the last decade as a result of national campaigns for cleaner energy pipelone more competitive tariffs for retail customers. Before the layout, I was able to find annual s of net exports of petro for each country, and now I have no idea where it is.
Our strategy is focused on supplying the local market and exporting crude oil, refined ecopterol, biofuels, petrochemical products and natural gas to end-users, including refineries and wholesalers, in order to improve our margins. Reserves replacement ratio including purchase and sales. According to our corporate policy, we report the reserves values obtained from the External Engineers. Critical Accounting Judgments and Estimates. The scope of the Colombian Petroleum Institute activities covers all of pipleine value chain segments: Our consolidated financial statements at and for the years ended December 31,and have been prepared under RCP.
The contract between Ecopetrol S. Information concerning the technical definitions used for the estimated proved reserves is included in this annual report. Views Read Edit View history. The market price of securities issued by Colombian companies, including us are subject to the prevailing economic conditions in Colombia.
This insurance program provides coverage for downstream assets and operations of Ecopetrol S.
The increase in our average daily production is due to a Total average daily crude oil production Ecopetrol S.
Improve processes and innovate in order to operate more efficiently.
Table 18 — Ecopetrol S. Resolution of established that any LPG household, commercial and industrial facility with a storage capacity of LPG greater than pounds must receive an authorization from the Ministry of Mines and Energy prior to commencing operations.
The following map shows the basins where Ecopetrol has been conducting its main exploration activities. The Ministry of Mines and Energy is the entity that controls and exercises technical supervision over the distribution of liquid fuels derived from petroleum, including the refining, import, storage, transportation and distribution in the efopetrol.
If we do not develop the right technology or do not obtain the expertise to operate new technology or to improve our processes, do not have access to, or deploy the knowledge necessary to apply and improve such technology effectively, the execution of our Strategic Plan, our profitability and our earnings may be adversely affected.
Finally, dividends paid to local corporations are not subject to this tax. Although these pipelines flow gas in interstate commerce, they are subject to state regulation.
Total Subsidiaries in Colombia. The following table sets forth our estimated net proved developed reserves of crude ty;e and gas by region for the years ended December 31,and Our exploration and production business segment includes exploration, development and production activities in Colombia and abroad.
Table 4 — Material Acquisitions since January 1, Total International production 3. Ty;e new crude unit began start-up process in October For additional information about transactions with related parties, see Note 32 tyle Related Parties to our consolidated financial statements.
The country is also a significant oil exporter, ranking as the fifth-largest crude oil exporter to the United States in UntilEcopetrol, the national oil company of Colombia, controlled the development of all hydrocarbon resources.
Jurisdiction of incorporation or organization.
As a result of the evaluations we fole and due to the reduction in production forecasts, the scope of the project was modified and the transportation capacity was reduced frombpd tobpd from the San Fernando station to the Monterrey station. The Ministry of Mines and Energy will exercise the functions of control, management, settlement, determination, discussion and collection of the contribution.
In total, we expect to add 6, million gross barrels of new reserves in the years Decree of amended by Decree of provides that in the event the supply of natural gas is reduced or halted as a result of a shortage, the Colombian government has the right to suspend the supply of natural gas for exportation.
Graph 2 — Ecopetrol Corporate Structure.