Ecopetrol to invest up to $7.2bn next year

EC -0.51% CL=F +2.05% NG=F -1.59%

Colombian state-owned oil and gas company Ecopetrol has unveiled its annual investment plan for 2026, with an amount between 22tn ($5.8bn) and 27tn pesos.

The company’s investment in exploration and production is expected to total 14tn pesos, with 89% allocated to crude oil and 11% to gas.

The plan targets organic production of 730,000–740,000 barrels of oil equivalent per day (boepd), comprising 80% crude, 15% gas and 5% white products.

Ecopetrol will deploy recovery technologies to optimise resources and sustain production.

Crude oil output is projected to increase, offsetting natural gas field declines.

The company plans to drill 380–430 development wells in 2026, with 95% of them located in Colombia and 5% in the US.

The plans also include eight to ten exploratory wells in Colombia, focusing on offshore regions as well as the Meta and Putumayo areas.

Ecopetrol has planned 1.5tn pesos of investment in gas, focused on the Llanos Foothills and offshore zones to advance Caribbean gas projects.

These initiatives are expected to support production of approximately 105,000–110,000boepd.

The company’s planned investment in transport infrastructure amounts to 1.5tn pesos, or 6% of the total budget.

This funding is earmarked for projects aimed at maintaining the integrity and reliability of assets managed by Cenit, Ocensa, ODC and ODL.

Forecasts indicate transported volumes will be between 1,110,000 and 1,120,000 barrels per day (bpd), in line with national output and demand for refined products.

Refining investments are expected to reach nearly 1.7tn pesos, accounting for 7% of the overall budget, reducing product imports and enhancing fuel quality.

The company is allocating the funds to the Barrancabermeja and Cartagena refineries, with a projected combined throughput of 410,000–420,000bpd.

In a separate development, Ecopetrol’s Board of Directors elected Ángela María Robledo Gómez as chairwoman and Álvaro Torres Macías as vice-chairman.

Guillermo García Realpe is resigning from his position as an independent director of the board for personal reasons, effective from 12 December 2025.

"Ecopetrol to invest up to $7.2bn next year " was originally created and published by Offshore Technology, a GlobalData owned brand.

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