Ecopetrol(US:EC) Prnewswire·2024-11-30 02:24Core Viewpoint - Ecopetrol S.A. has approved an annual investment budget for 2025 ranging from 24 to 28 trillion pesos, which represents an increase compared to 2024, focusing on capital discipline and strategic growth in various sectors [1][10]. Investment Budget Overview - The budget allocates approximately 20.3 trillion pesos (76% of the total) for profitable production, targeting an output of 740,000 to 745,000 barrels of oil equivalent per day and refining capacity of 415,000 to 420,000 barrels per day [1][2]. - An estimated 6.5 trillion pesos (24% of the budget) will be directed towards Energy Transition projects and other corporate investments, including 2.3 trillion pesos for SosTECnibilidad® initiatives [1][9]. Hydrocarbons Line - Investments in exploration and production are expected to be around 17.2 trillion pesos, focusing on crude oil and gas production, with a target of 740,000 to 745,000 barrels of oil equivalent per day [2][3]. - The company plans to drill between 455 and 465 development wells, with 79% in Colombia and 21% in the United States, and aims to produce approximately 123,000 barrels of oil equivalent per day from gas investments [3]. Transportation and Refining Segments - Transportation investments are projected at approximately 1.5 trillion pesos, focusing on infrastructure integrity and reliability, with expected transported volumes of 1,130,000 to 1,170,000 barrels per day [4]. - Refining investments are estimated at 1.6 trillion pesos, aimed at ensuring operational reliability and sustainability of the Barrancabermeja and Cartagena refineries, with a joint load of 415,000 to 420,000 barrels per day [5]. Energy Transition and Optimization - The budget includes investments in unconventional renewable energy and energy efficiency projects, with an expected energy optimization of 2.6 Peta Joules (PJ) in 2025 [8][9]. - The company aims to achieve an accumulated energy saving of around 21 PJ by 2025, contributing to a target of 25 PJ by 2030 [9]. Financial Projections - The financial plan anticipates competitive returns with an estimated EBITDA margin of 39% based on a Brent price of US$73 per barrel, with operational efficiency targets exceeding 4 trillion pesos [10][11]. - The financing of the investment plan is expected to be supported by operational resources and project transfers to the Nation, estimated at approximately 35 trillion pesos [11]. Company Profile - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production, and holds significant positions in energy transmission and logistics across the Americas [12].