Investment Plan Overview - Ecopetrol has announced its annual investment plan for 2026, with a budget ranging from 22 trillion to 27 trillion pesos ($5.8 billion to $7.2 billion) [1] - The investment in exploration and production is projected to be 14 trillion pesos, with 89% allocated to crude oil and 11% to gas [1] Production Targets - The company aims for an organic production target of 730,000 to 740,000 barrels of oil equivalent per day (boepd), consisting of 80% crude oil, 15% gas, and 5% white products [1] - Crude oil output is expected to increase, compensating for declines in natural gas fields [2] Drilling and Exploration - Ecopetrol plans to drill between 380 and 430 development wells in 2026, with 95% located in Colombia and 5% in the US [2] - The company will also conduct eight to ten exploratory wells in Colombia, focusing on offshore regions and the Meta and Putumayo areas [2] Gas Investment - A total of 1.5 trillion pesos is allocated for gas investments, particularly in the Llanos Foothills and offshore zones to support Caribbean gas projects, aiming for production of approximately 105,000 to 110,000 boepd [3] Transport Infrastructure - The planned investment in transport infrastructure is 1.5 trillion pesos, representing 6% of the total budget, aimed at maintaining the integrity and reliability of assets managed by Cenit, Ocensa, ODC, and ODL [3] Refining Investments - Refining investments are expected to reach nearly 1.7 trillion pesos, accounting for 7% of the overall budget, to reduce product imports and enhance fuel quality [4] - Funds will be allocated to the Barrancabermeja and Cartagena refineries, with a projected combined throughput of 410,000 to 420,000 barrels per day (bpd) [4] Leadership Changes - Ecopetrol's Board of Directors has elected Ángela María Robledo Gómez as chairwoman and Álvaro Torres Macías as vice-chairman [5] - Guillermo García Realpe will resign from his position as an independent director effective December 12, 2025, for personal reasons [5]