Bogota — A majority of that spending, about $4.8 billion, will go toward keeping production between 725,000 and 730,000 boepd, the company’s refineries at between 420,000 and 430,000 barrels per day (bpd) and transporting more than a million bpd, the company said late on Thursday.
About 42% of the spending plan will be focused on the energy transition, including low emissions, decarbonization, electrical transmission and natural gas supplies, the statement added.
Ecopetrol, Colombia’s largest company, plans to generate some 7 trillion pesos in efficiencies during the next three years, it said.
The company would have competitive returns if prices for Brent were $75 a barrel next year, Ecopetrol said.
Investments between 2024 and 2026 would reach some 80 trillion pesos, about $20 billion, chief executive Ricardo Roa said in a video.
Reporting by Nelson Bocanegra and Julia Symmes Cobb; Editing by Alex Richardson – Reuters
