Ecopetrol announces massive investment plan for 2025

In Colombia, on November 29, 2024, Ecopetrol S.A. announced its annual investment budget for 2025, totaling between 24 and 28 trillion pesos. This budget reflects an increase in investment compared to the previous year and aligns with the company's strategy of maintaining capital discipline. Approximately 76% of the budget, or around 20.3 trillion pesos, will be directed towards profitable production as the company seeks to optimize its operations and maintain production levels of between 740,000 and 745,000 barrels of oil equivalent per day. The investments will prioritize the hydrocarbons sector, where 17.2 trillion pesos are expected to enhance exploration and production initiatives. The majority of these projects will be undertaken in Colombia, with some operations also occurring in the United States. Gas investments will focus on developing Caribbean Colombia's gas resources and are estimated at 3.1 to 3.3 trillion pesos, contributing significantly to national supply. Furthermore, the company plans to channel around 6.5 trillion pesos into energy transition projects, energy transmission, and other corporate investments. Notably, 2.3 trillion pesos will support initiatives related to climate change, sustainable territory, scientific innovation, biodiversity, and ecosystem services. This budget aims to reduce CO2 emissions by approximately 300,000 tons by 2025, reinforcing Ecopetrol’s commitment to its emission reduction targets for 2030. In addition to hydrocarbons, the investments of ISA, a subsidiary of Ecopetrol, are also considerable, with plans to invest between 5.7 and 6.5 trillion pesos focused primarily on the electric transmission business. Be it through hydrocarbon production or energy optimization projects, Ecopetrol is set to reinforce its role as Colombia's largest company while also aligning its goals with sustainable practices in the energy sector.