Ecopetrol informs sanction pronounced by the ANH

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BOGOTA, Colombia, April 29, 2022 /PRNewswire/ — Ecopetrol SA (ECOPETROLTHIS it was notified in Resolution No. 315 of the April 26, 2022 that he was sanctioned for an amount equivalent to four thousand five hundred and fifty dollars (WE $4,550) by the Agencia Nacional de Hridorcarburos (ANH by its Spanish acronym).

The penalty is related to the submission of the Post Official Completion Report – Form 10CR for well RB 1237H. The ANH considered that the submission of the Form was late, in accordance with the provision contained in Article 40 of Resolution 181495 of 2009.

Ecopetrol SA, complies with and respects the decisions of the ANH; however, the company’s actions have always been framed in compliance with the regulations in force, so it will use the appropriate legal actions to oppose the decision in the competent courts.

Ecopetrol is the largest company in Colombia and one of the leading integrated energy companies in the Americas, with more than 17,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most of the transport, logistics and hydrocarbon refining systems, and it holds leading positions in the petrochemical and gas distribution segments . With the acquisition of 51.4% of the shares of ISA, the company participates in the transmission of energy, the management of real-time systems (XM) and the Barranquilla – Cartagena coastal highway concession. Internationally, Ecopetrol holds interests in strategic basins on the American continent, with drilling and exploration activities in United States (Permian Basin and the Gulf of Mexico), Braziland Mexicoand, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission sector in Brazil, Chile, Peruand Bolivia, road concessions in Chile, and the telecommunications sector. This press release contains statements of business outlook, estimates of operating and financial results and statements relating to Ecopetrol’s growth prospects. These are all projections and as such are based solely on executives’ expectations regarding the future of the company and their continued access to capital to fund the company’s business plan. The achievement of such estimates in the future depends on the behavior of market conditions, regulations, competition, the performance of the Colombian economy and the industry, among other factors, and is therefore subject to change without prior notice.

This release contains statements that may be deemed forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US 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 with respect to the company’s growth prospects. and its continued access to capital to fund the company’s business plan. , among others. Accordingly, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices for oil and gas, our exploration and production activities, market conditions, applicable regulations, stock exchange rates, the competitiveness of the Company and the performance of Colombia economy and industry, to name a few. We do not intend and assume no obligation to update these forward-looking statements.

For more information please contact:

Acting Head of Capital Markets
Carolina Tovar Aragon
E-mail: [email protected]

Corporate Communications Manager
Mauricio Tellez
E-mail: [email protected]

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SOURCE Ecopetrol SA


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