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.
|Published (Last):||4 May 2016|
|PDF File Size:||18.27 Mb|
|ePub File Size:||20.60 Mb|
|Price:||Free* [*Free Regsitration Required]|
As filed with the Securities and Exchange Commission on May 30, Exact name of Registrant as specified in its charter.
Jurisdiction of incorporation or organization.
Crude Oil Exports
Address of principal tyype offices. Securities registered or to be registered pursuant to Section 12 b of the Act. Securities registered or to be registered pursuant to Section 12 g of the Act: Securities for which there is a reporting obligation pursuant to Section 15 d of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, ecopettrol defined in Rule of the Securities Act.
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 d of the Securities Exchange Act of Indicate by check mark whether the registrant 1 has filed all reports required to be filed by Section 13 or 15 d of the Securities Exchange Act of during the preceding 12 months or for such shorter period that the registrant was required to file such reportsand 2 has been subject to such filing requirements for the past scopetrol days.
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. If an emerging growth company that prepares its financial statements in accordance with U.
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this tupe. If this is an annual report, indicate by check ecopetdol whether the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.
Annual Report on Form F Securities and Exchange Commission. We file reports, including annual reports on Form F, and other information with the SEC pursuant to the rules and regulations of the SEC that apply to foreign private issuers. This URL is intended to be pipelinw inactive textual reference only.
It is not intended to be an active hyperlink to our website. The information on our website, which might be accessible through a hyperlink resulting from this URL, is not and shall not be deemed to be incorporated into this annual report.
References made to the Colombian government or the Government correspond to the executive branch including the President popeline Colombia, pipelibe ministries and other governmental agencies responsible for regulating our business.
This annual report on Form F contains forward-looking statements within the meaning of the safe harbor provisions of the U. Private Securities Litigation Reform Act of These statements are not based on historical facts and reflect our expectations for future events and results. Most facts are uncertain because of their nature. We have made forward-looking statements that address, among other things:. Our forward-looking statements are not guarantees of future performance and are subject to assumptions that may prove incorrect and to risks and uncertainties that are difficult to predict.
Actual results could differ materially from those expressed or forecast in any forward-looking statements as a result of a variety of factors. These factors may include, but are not limited to, the following:.
All forward-looking statements attributed to us are qualified in their entirety by this cautionary statement. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.
Accordingly, readers should not place undue reliance on the forward-looking statements contained in this annual report. The following table sets forth, for the periods and at the dates indicated, our selected historical financial and certain key operating data.
The selected financial data has been derived from and should be read in conjunction with, and is qualified in its entirety by reference to, our consolidated audited financial statements, presented in Colombian Pesos. Table 1 — Selected Operating Data.
Expressed in millions of Colombian Pesos, except for the net income per share and net operating income per share, which are expressed in Colombian Pesos. Table 2 — Selected Financial Data. Our consolidated financial statements for the year ended December 31, were our first set of consolidated financial statements prepared in accordance with IFRS.
Our consolidated financial statements were consolidated ma; by line and all transactions and balances between subsidiaries have been eliminated. These financial statements include the financial results of all subsidiary companies controlled, directly or indirectly, by Ecopetrol S.
See Exhibit 1 — Consolidated companies, associates and joint ventures, to our consolidated financial statements included in this annual report. We present our operating information on a consolidated basis.
Accordingly, while we have in the past reconciled our consolidated financial statements prepared in accordance with Colombian Government Typd GAAP to U. We do continue to provide pipdline disclosure required under the U.
GAAP to our historical consolidated financial statements. This annual report translates certain Colombian Peso amounts into U. Such conversion should not be construed as a representation that the Colombian Peso amounts correspond to, or have been or could be converted into, U.
Certain ecooetrol shown in this annual report have been subject to rounding adjustments and, accordingly, certain totals may therefore not precisely equal the sum of the numbers presented. In this annual report a billion is equal to one with nine zeros. Due to market imbalances, there was a sharp contraction in crude oil price, particularly in the first quarter of Although oil prices have recovered from the lowest prices during the oil crisis, high levels of uncertainty persist flle a less than smooth recovery.
The industries with the greatest growth rates were financial institutions, insurance, real estate and business services, construction and manufacturing. On the pipelind hand, the industry with the largest drop in growth was mining. Gasoline domestic sales were more competitive than its substitutes due to its price decrease and fewer than expected conversions to natural gas for vehicles NGV in Colombia. Inthere were no major changes in natural gas regulation.
With respect to natural gas supply, in Novembera new regasification plant located in Cartagena became available, meaning that Colombia is now connected to the international LNG market and LNG prices will be a reference for national gas prices. The three pillars of the plan are: Cash flow focus and cost efficiency: Such reduction has been accomplished due to the implementation of initiatives through our different business segments and corporate areas.
The new business plan entails a second phase of the Transformation Program, with activities aimed to achieve excellence in project planning and execution as well as in our production, transportation, refining and marketing operations.
We have preserved a rigorous level of capital discipline through the adjustment of investments and the adoption of strict controls to ensure that projects are delivered efficiently and within the expected time frame and budget. As part of capital discipline, Ecopetrol is currently engaged in the divestment of non-strategic assets and the sale of minor fields, and has also defined a dividend policy as described in Section 6.
Profitable growth in production and exploration: One of the pillars of the revised business plan is the view that a strong production portfolio and a greater exploratory success will bring about profitable growth. In exploration, the plan estimates the incorporation of approximately 1, million barrels of contingent resources.
In respect of adding reserves, we highlight the results of the exploratory campaigns in the Colombian Caribbean offshore and the Gulf of Mexico in the United States.
During the period —Ecopetrol expects to add million barrels of proven reserves from current fields and exploration. The Ecopetrol Group will continue to produce an average of about thousand barrels of oil equivalent per day during Most of the investment will be in exploration and production.
In refining, petrochemicals and biofuels, and transportation and logistics, investments will be made to comply with integrity and operational requirements as well as project completion.
The table below sets forth the details of the investment plan per business segment. Table 3 — Investment Plan.
Caño Limón–Coveñas pipeline – Wikipedia
We have also allocated funds for our affiliates and subsidiaries as follows: The segment is seeking fole higher efficiency in operations and maintenance practices. Refining, petrochemicals, and biofuels. It is important to highlight that the Barrancabermeja Refinery modernization plan will continue to be delayed pipelnie the oil price environment allows investments to be made in such a major project. The mode of execution will be defined in this context, after analyzing alternatives which include a modular option in time and investment.
Inwe assumed the direct operation of the Barrancabermeja Refinery and continued its transformation into an industrial complex. Inwe acquired the Cartagena Refinery, which had been in operation since Pursuant to Decree ofwe were transformed into a governmental industrial and commercial company. Ecopetrol modified its organic structure and became Ecopetrol S. Sinceaccording to Lawwe have been evolving from a wholly state-owned entity to a mixed-economy company with private vile. This process has resulted in a substantial change in the legal framework to which we are subject and in the nature of our relationship with the Nation.
We carried out our initial public offering in November when our common shares became listed on the Colombian Stock Exchange. We operate in the following business segments: We have a number ecopetrl directly and indirectly held ma both in Colombia and abroad.
Our subsidiaries are either directly owned by us or indirectly owned by us through one or more of our other subsidiaries. As of March 31,we have eight directly owned and 20 indirectly owned subsidiaries. Graph 2 — Ecopetrol Corporate Structure. The stock ownership percentage listed refers to Piepline S.
The data in this structure shows neither the whole ownership nor its decimal figures, so they will be used only for information purposes.
The so-called shareholding Ecopetrol S. We are in the process of selling some of our non-core shareholdings:.
We are a vertically integrated oil company with a presence primarily in Colombia and with activities in Peru, Brazil and the U. The Nation currently controls We are among the top 36 oil and gas companies in the world based on the Petroleum Intelligence Weekly Top 50 Ranking – We play a key role in the local hydrocarbon market. Our exploration and production business segment includes exploration, development and production activities in Colombia and abroad. We began local exploration in and international exploration in