According to the company, investment in the exploration and production segment represents 60.5% of the total capital investment plan for 2009.
The majority of investment in the area of production will be allocated to the Llanos Orientales and Middle Magdalena regions in order to continue the expansion and development of heavy crude and mature fields, said Ecopetrol.
Nearly 25% of the total investment will go towards the joint development projects with its partners; while 8% of the capital outlay will be invested overseas.
With an investment of U.S. $ 1049 million in 2009, the company plans to advance the drilling of 28 exploratory wells, of which 24 carried out by a direct in Colombia and 4 abroad in conjunction with partners. In seismic, the company plans to acquire 7801 kilometers equivalent, of which 6274 were conducted in 1527 in Colombia and abroad.
Javier Gutierrez, president of Ecopetrol, said: “The 2009 investment plan is aligned with the growth strategy, the goal of which is to become a global energy company as of 2015, with daily production of one million barrels of oil equivalent, and a consolidated biofuels, refining and petrochemical portfolio.”
