Skip to main content INVESTOR DAY – Ecopetrol S.A. Investor Presentation | Shale Experts
Loading...
Pm

INVESTOR DAY – Ecopetrol S.A.

Ecopetrol S.A. · Oct 4, 2010 · 84 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. INVESTOR DAY – Ecopetrol S.A. – slide 1
    ECOPETROL S.A. INVESTOR DAY New York, October 4 of 2010
  2. INVESTOR DAY – Ecopetrol S.A. – slide 2
    Disclaimer This document was prepared by Ecopetrol S.A. with the purpose of providing the market and interested parties certain financial and other information of the Company. This document may include strategy discussions and…
  3. INVESTOR DAY – Ecopetrol S.A. – slide 3
    AGENDA A new era for O&G in Colombia and for Ecopetrol Delivering on our goals 2008 2010 Strategic Plan 2011-2020 Financial Highlights Closing remarks 3
  4. INVESTOR DAY – Ecopetrol S.A. – slide 4
    A new era for O&G in Colombia and for Ecopetrol Colombia O&G sector in a positive cycle Transformation of Ecopetrol 4
  5. INVESTOR DAY – Ecopetrol S.A. – slide 5
    Ecopetrol leads the transformation since 2003 Ownership 100% Government owned 10.1% market float (up to 20%) Listed in BVC, NYSE, BVL and TSX Corporate Governance Business NOC business model with Diversified Corporate Group across all…
  6. INVESTOR DAY – Ecopetrol S.A. – slide 6
    Delivering on our goals 2008 2010 Results of strategic plan E&P Refining Transportation Petrochemicals Biofuels 8
  7. INVESTOR DAY – Ecopetrol S.A. – slide 7
    Capex has lead to significant growth across all segments CAPEX 2002-2010 Strategic plan launched in 2007 (USD mn) 6,925 6,306 USD 18 bn Capex 4,824 from 2008-2010 +60% of Capex allocated to E&P 1,760 922 1,255 Avg. ROCE of…
  8. INVESTOR DAY – Ecopetrol S.A. – slide 8
    We have an integrated successful business model Exploration & Production Refining & Petrochemical Avg production 593.91 MBOED (2Q10) Refining capacity Propilco 500 M 330 MBOD 1P Reserves: 1,8782 MMBOE (Dec, 09) Tons/yr B/meja: 250…
  9. INVESTOR DAY – Ecopetrol S.A. – slide 9
    Sustained E&P growth Production 1P Reserves** MBOED 594 MMBOED 521 100 1,610 1,558 1,486 447 95 1,384 542 376 385 399 85 511 428 72 440 432 65 69 426 494 1336 327 362 1099 1130 1046 952 311 316 2005 2006 2007 2008 2009*…
  10. INVESTOR DAY – Ecopetrol S.A. – slide 10
    Sustained production growth Heavy crudes 198 MBOED 141 107 78 85 60 46 29 36 2002 2003 2004 2005 2006 2007 2008 2009 20102010 Meta (E) Chichimene Castilla Nare Rubiales Total Brown fields 40 45 MBOED 35 28 25 22…
  11. INVESTOR DAY – Ecopetrol S.A. – slide 11
    Our priority is to consolidate a diversified portfolio in regions of mid and high prospectivity US Gulf coast 276,480 United states Hectares 1 Asset in production K2 Ecopetrols production : 2 MBOED Anadarko (operator) 41.8%…
  12. INVESTOR DAY – Ecopetrol S.A. – slide 12
    Competitive costs for E & P 17,76 F&D cost 13,75 13,20 USD/bl Central & South America World Ecopetrol 12,20 9,80 Lifting cost 7,20 USD/bl Peers* max Peers* min Ecopetrol Source: Herold, Bloomberg, Quarterly results…
  13. INVESTOR DAY – Ecopetrol S.A. – slide 13
    Refining 2008-2010: Hydrotreatment (HDT) GOALS 19,000 BPD of hydro treated naphtha 56,000 BPD of hydro treated diesel 300 ppm sulfur for gasoline 50 & 500 ppm sulfur for diesel SCOPE 7 new processing plants in the Barrancabermeja…
  14. INVESTOR DAY – Ecopetrol S.A. – slide 14
    Transportation 2008-2010: Oil pipelines Santa Marta Cartagena ODC Cap. increase Vas-Cov (+ 35 mbod) Transported Coveas Capex: USD 5 mn Volume Increased Nov-08 Ayacucho Additional kms of oil pipelines Ocensa Cap. Increase…
  15. INVESTOR DAY – Ecopetrol S.A. – slide 15
    Transportation 2008-2010: Other logistic projects Santa Marta Cartagena Truck facilities USD 70 mn Coveas Storage USD 48 mn Unload facilities USD 70 Kb Ayacucho Storage 320 Kb Vasconia (+ 20 mbod) Monterrey (+ 46 mbod) Inv:…
  16. INVESTOR DAY – Ecopetrol S.A. – slide 16
    Downstream: Increase in capacity and quality of products Length of the pipeline system Transported volumes (Kms) (MBOD) 1,046 8.425 8.425 9.164 9.164 752 800 262 710 3.400 3.400 4.035 4.035 209 223 194 763 5.025 5.025 5.128 5.128…
  17. INVESTOR DAY – Ecopetrol S.A. – slide 17
    Biofuels 2008-2010: Ecodiesel Start of operations Jun-10 Capex (USD mn) 47.5 Ecodiesel Laboratory - Barrancabermeja Ownership: Ecopetrol 50% / Palm growers 50% Average production: 100,000 tons/yr (2,000 bls/day)…
  18. INVESTOR DAY – Ecopetrol S.A. – slide 18
    Sales & marketing: diversifying our markets Local sales Exports Products Crude 739 Total Sales 475 547 650 302 361 49% 251 739 Natural gas MBOED 148 216 385 327 331 348 378 51% 102 Products 2007 2008 2009 2010-2Q Crude…
  19. INVESTOR DAY – Ecopetrol S.A. – slide 19
    Improving management and control model ETHICAL INTERNAL HUMAN TALENT COMPLIANCE CONTROL Complaints AUDIT SELF - Preliminary COSO COBIT SOX PLAN CULTURE SKILLS CONTROL evaluation Development and improvement of Analysis and…
  20. INVESTOR DAY – Ecopetrol S.A. – slide 20
    Strategic Plan 2011-2020 Goals & key projects E&P Refining Transportation Petrochemicals Biofuels 22
  21. INVESTOR DAY – Ecopetrol S.A. – slide 21
    Upstream 594 MBOED (Jun.10) Production 12 month growth: 14.5 % Reserves 1P Reserves: 1,878 MMBOE (Dec.09) Avg life 9.9 yrs. RRI 359% (2009) Capex 2010 Exploration USD 1.0 bn Production USD 3.6 bn Exploration USD 20 bn…
  22. INVESTOR DAY – Ecopetrol S.A. – slide 22
    Upstream strategy: Field development, increasing production, and adding new reserves Guidelines 1. Develop heavy crude oil potential 2. Add new reserves and optimize production of current fields Increase the recovery factor New…
  23. INVESTOR DAY – Ecopetrol S.A. – slide 23
    Exploration: Strategic lines Colombia International Leverage Early production New discoveries expected to produce short term revenues to leverage growth in exploratory activities Proven basins Peru Maraon Growth Caribbean…
  24. INVESTOR DAY – Ecopetrol S.A. – slide 24
    Production and reserves addition goals: 2011-2020 Production 2007-2020 Reserves addition average prod. / yr 2008-2020 (mboed) (Mn boe) 2008-10 1,100 Non Conv. 2011-20 4,900 6,000 1,302 Acquisitions 35 16 Acquisitions 566 9%…
  25. INVESTOR DAY – Ecopetrol S.A. – slide 25
    Downstream Refining capacity 330 MBOD (Jun-10) B/bermeja 250 MBOD Cartagena 80 MBOED Transportation 9,223 kms of pipelines Capacity Transported volumes Crudes 793 MBOE Products 253 MBOE Petrochemicals Production 705 M tons /…
  26. INVESTOR DAY – Ecopetrol S.A. – slide 26
    Downstream strategy: Guidelines 1. Refining Increase conversion of refineries Refinery feeds (heavy crudes) Clean fuels Increase capacity 2. Petrochemicals Take advantage of market opportunities Adding more value to refining…
  27. INVESTOR DAY – Ecopetrol S.A. – slide 27
    Organizational consolidation Organizational skills Objectives Goals 0.4 accidents per 1 Responsible operations No injuries or damages to the environment or infrastructure million labor hours by 2015 Costs and processes 2…
  28. INVESTOR DAY – Ecopetrol S.A. – slide 28
    Capex plan 2011-2020 7% 6% 25% 7% US80 bn Guidelines Profitable growth Organizational consolidation 55% Corporate responsibility Exploration Capex Production 80% allocated to E&P 64% financed with net cash generation…
  29. INVESTOR DAY – Ecopetrol S.A. – slide 29
    Acquisitions Guidelines Systematic target analysis: 1. Strategic guidelines 2. Balanced portfolio 3. Promptness 4. Local / international 5. Up / Downstream 6. Analyzed/approved on a one-on one case 31 31
  30. INVESTOR DAY – Ecopetrol S.A. – slide 30
    Upstream strategy 1 Exploration New reserves 2 Current fields development Heavy crudes, brown fields Recovery factor 3 Gas projects 32
  31. INVESTOR DAY – Ecopetrol S.A. – slide 31
    Upstream strategy 1 Exploration New reserves 2 Current fields development Heavy crudes, brown fields Recovery factor 3 Gas Projects 33
  32. INVESTOR DAY – Ecopetrol S.A. – slide 32
    Exploration: Strategic lines in Colombia Exploratory Area Blocks in Colombia 19.8 million Ha * Caribbean Offshore Venezuela Leverage Sustainability Growth Early production Proven basins 51 blocks Offshore Caribbean…
  33. INVESTOR DAY – Ecopetrol S.A. – slide 33
    Exploratory plan in Colombia: Jul Dec 2010 Exploratory Wells Ongoing exploration Preliminary Project Block success 12 1 Oripaya-1 Uribante 4 Kaxan Norte-1 San Gabriel 3 4 Tinkahana-1 Putumayo Occidental 3 Akacias-1 CPO-9 2 2…
  34. INVESTOR DAY – Ecopetrol S.A. – slide 34
    Exploration: Unconventional Hydrocarbons Unconventional hydrocarbons in Colombia: 1. Gas shale 2. Tar sands 3. Gas hydrates 4. Tight gas 5. Oil shale 6. CBM (coal bed methane) Ecopetrols strategy: Identifying opportunities…
  35. INVESTOR DAY – Ecopetrol S.A. – slide 35
    Why explore abroad Diversified Strategy Goals E&P Portfolio Risk diversification and sources for long term reserves Growth Colombia challenges Higher Attractive country requirements Medium potential Strategy of reserves &…
  36. INVESTOR DAY – Ecopetrol S.A. – slide 36
    Exploration: International strategic lines US Gulf Coast 276,480 Has Exploratory Area 9,157,349 has GoM Miocene Para Maranhao Brazil post-sal pre-sal Maran Peru maran Sechura Ucayali Peru offshore Salaverry Brazil Lima…
  37. INVESTOR DAY – Ecopetrol S.A. – slide 37
    Upstream strategy 1 Exploration New reserves 2 Current fields development Heavy crudes, brown fields Recovery factor 3 Gas projects 39
  38. INVESTOR DAY – Ecopetrol S.A. – slide 38
    Production: 615 MBOED in 2010 and 750 MBOED in 2011 Estimated incremental production 2010-2011 (MBOED) 35 750 - 32 2 8 23 35 615 Production 2010 Chichimene Castilla Rubiales La Cira Casabe Other fields and Production 2011…
  39. INVESTOR DAY – Ecopetrol S.A. – slide 39
    Main fields: Castilla Location/ Province Meta (Eastern plains) Ecopetrols interest 100% Type of crude Heavy (13 API) Capex 2011 (approx.) USD 1,000 mn Production MBOED 117 94 2010 (e) 2011 (e) 41
  40. INVESTOR DAY – Ecopetrol S.A. – slide 40
    Main fields: Rubiales/Pirir Location/ Province Meta (Eastern plains) Rubiales 60% Ecopetrols interest Pirir 50% Type of crude Heavy (12 API) Capex 2011 (approx.) USD 500 mn Production* 96 MBOED 64 2010 (e) 2011 (e)…
  41. INVESTOR DAY – Ecopetrol S.A. – slide 41
    Main fields: Chichimene Location/ Province Meta (Eastern plains) Ecopetrols interest 100% w Type of crude Heavy (9-12 API) Capex 2011 (approx.) USD 510 mn Production MBOED 59 24 2010 (e) 2011 (e) 43
  42. INVESTOR DAY – Ecopetrol S.A. – slide 42
    Main fields: La Cira Santander Location/ Province (Mid Magdalena) Ecopetrols interest 60% w Type of crude Medium (1927 API) Capex 2011 (approx.) USD 150 mn Production * 18 MBOED 16 2010 (e) 2011 (e) * Accounts for…
  43. INVESTOR DAY – Ecopetrol S.A. – slide 43
    Main fields: Casabe Antioquia Location/ Province (Mid Magdalena) Ecopetrols interest 100% w Type of crude Medium (21-23 API) Capex 2011 (approx.) USD 230 mn Production 24 MBOED 16 2010 (e) 2011 (e) 45
  44. INVESTOR DAY – Ecopetrol S.A. – slide 44
    Upstream strategy 1 Exploration New reserves 2 Current fields development Heavy crudes, brown fields Recovery factor 3 Gas projects 46
  45. INVESTOR DAY – Ecopetrol S.A. – slide 45
    Gas projects: Increase production by 250 Mpcd by 2011 Production Current Fieds capacity production MPCD including capacity projects GUAJIRA Gibraltar 0 36 + 36 Cusiana LTOII 215 285 +70 SARDINATA Cupiagua 0 140 +140…
  46. INVESTOR DAY – Ecopetrol S.A. – slide 46
    Refining: Strategy & Goals Increase production of clean and valuable products by taking advantage of synergies and ensuring profitability ROCE: 11% Become a leader in the Refining business in Latin America 1 2 3 4…
  47. INVESTOR DAY – Ecopetrol S.A. – slide 47
    Refining: Operational excellence Barrels spilled by operational cause Accident frequency rate Bls / yr (hours lost per million worked hours) 4,30 3,91 158 2,16 1,71 1,91 1,64 6 0 10 2007 2008 2009 2010 (Agosto) (Aug) 2005…
  48. INVESTOR DAY – Ecopetrol S.A. – slide 48
    Refining: Improving quality of diesel and gasoline Sulfur content: Bogota (ppm) 2,000 1,200 Regulation ECOPETROL Clean Diesel: ppm S 900 1,000 500 500 350 178 50 50 50 30 0 A better diesel for 2007 2008 2009 2010 2013…
  49. INVESTOR DAY – Ecopetrol S.A. – slide 49
    Refining: Cartagena Refinery Master Plan (PMDC) GOALS: Increase refining capacity from 80 to 165 MBD High conversion 30 ppm sulfur for gasoline and 15 ppm for diesel Nelson Complexity Index 10.7 (current 5.4) CAPEX USD 3.7 bn +/-…
  50. INVESTOR DAY – Ecopetrol S.A. – slide 50
    Refining: Barrancabermeja Refinery Modernization (PMRB) GOALS Load 150 MBD of Colombian acid/heavy oils High conversion ( 95%) Nelson Complexity Index 10.3 (current 6.9) SCOPE 3 new processing units: Delayed Coking Unit…
  51. INVESTOR DAY – Ecopetrol S.A. – slide 51
    Refining: Feeds and products Feed of B/meja and Cartagena refineries Refined products B/meja refinery (mbod) (mbod) 413 250 60 14% 230 3 1% 310 85 21% 55 24% 66 120 48% 21% 32% 73 164 53% 65% 268 83 36% 106 42% 81 26% 19…
  52. INVESTOR DAY – Ecopetrol S.A. – slide 52
    Refineriesmodernization projects to improve our margins Increasing Improving Refining Margin margins: Process heavier crudes and produce more Process heavier crudes and valuable products 1- Heavy crude Optimize produce higher…
  53. INVESTOR DAY – Ecopetrol S.A. – slide 53
    Transportation: Strategy & Goals Profitable growth allowing for the development of ECPs value chain ROCE: 10% - 12% 1 Provide comprehensive and 2 3 4 Efficient and profitable transportation and Ensure sustainable Efficient…
  54. INVESTOR DAY – Ecopetrol S.A. – slide 54
    Transportation: Crude oil pipelines Cartagena Transported volume daily average 2009: 670 MBOD Coveas Retiro Or Tib 2010: 793 MBOD Ayacucho Caucasia Ro Zulia Payoa Toledo B/Bermeja Banadia Cao Limn Samor Sebastopol…
  55. INVESTOR DAY – Ecopetrol S.A. – slide 55
    Transportation: Product pipelines Pozos Colorados ECOPETROL 100% Baranoa PIPELINES FOR PROPANE THIRD PARTIES Cartagena Transported volume daily average MAGDALENA RIVER 2009: 235 MBOD 2010: 253 MBOD La Lizama Galn B/manga…
  56. INVESTOR DAY – Ecopetrol S.A. – slide 56
    Transportation: Operational excellence Attacks against infrastructure Accident frequency with loss of labor time (No. of attacks) (days away of work per mn labor hrs.) 249 6,51 167 173 133 95 2,70 85 84 1,92 66 47 51 1,03…
  57. INVESTOR DAY – Ecopetrol S.A. – slide 57
    Transportation: additional capacity to enable increase in production Projects on engineering phase will close Mid Magdalena 300.000 the gap for crude transportation 250.000 200.000 150.000 CasanareCasanare bpd - Meta 100.000 -…
  58. INVESTOR DAY – Ecopetrol S.A. – slide 58
    Transportation 2010-2011: Oil pipelines Santa Marta Cartagena Cap. Increase ODC (+ 40 mbod) Coveas Capex: USD 8 mn January 2011 Ayacucho Cap. Increase Cao Limon - Coveas y Vasconia Barrancabermeja Ayacucho - Coveas (+ 240…
  59. INVESTOR DAY – Ecopetrol S.A. – slide 59
    Transportation 2010-2011: Other ongoing projects Santa Marta Cap. Increase Ayacucho (+ 15 mbod) Cartagena New Buoys in Coveas Investment: USD 8 mn/ Oct. 2010 Coveas Investment: USD 25 mn October 2010 Banadia (40 mbod) Ayacucho…
  60. INVESTOR DAY – Ecopetrol S.A. – slide 60
    Transportation: Future projects 2012 and beyond USD 5.5 bn Santa Marta Cartagena Coveas 1 Capacity Increase Apiay - El Porvenir Ayacucho 450 mbod in Feb-12 B/Bermeja Cao Limn 2 Capacity Increase Castilla - Vasconia 3…
  61. INVESTOR DAY – Ecopetrol S.A. – slide 61
    Transportation: Future projects 2012 and beyond USD 5.5 bn (cont.) Santa Marta 4 Pipeline Casanare - Coveas Cartagena (Oleoducto bicentenario) 6 Coveas 450 mbod by Dec-12 Ayacucho 5 Capacity Increase Ocensa (Above 560 mbod)…
  62. INVESTOR DAY – Ecopetrol S.A. – slide 62
    Oleoducto Bicentenario de Colombia Capacity: 450 Kbpd (Dec-12) Santa Marta Capex: USD 4,200 mn* Cartagena Independent system between Araguaney and Coveas Coveas Length: 960 kms. Private pipeline: Investors are oil producers…
  63. INVESTOR DAY – Ecopetrol S.A. – slide 63
    Oleoducto Bicentenario de Colombia 0 PHASE 0: Building of Banada Unloading Facility Date: Oct.2010* Capacity: 40 KBPD Santa Marta Capex: USD 46.6 mn Cartagena 3 Coveas 1 PHASE 1: Building of Araguaney Banada tranche 2 Date:…
  64. INVESTOR DAY – Ecopetrol S.A. – slide 64
    Gas: Strategy & goals Strengthening the local market and developing business in the region Sales 2015: 1.000 GBTUD* 1 2 Advocate for a 3 Ensure gas reserves and 4 Efficiency on capital, Materialize regional gas suitable…
  65. INVESTOR DAY – Ecopetrol S.A. – slide 65
    Gas: Balance 2010-2025 1.800 Cusiana LTO-II, 70 MFCD, Jan 2011 2010-2025 1.600 Demand growth 1.400 Gibraltar 36 MFCD, Jan 2011 1.200 G B 1.000 T U 800 Cupiagua,140 MFCD, July 2011 Cupiagua.70 MFCD, Jan 2017 D 600 400…
  66. INVESTOR DAY – Ecopetrol S.A. – slide 66
    Gas: Key activities 2010-2020 New markets Jamaica Aruba San Andres Panam Capacity: Ecopetrol S.A. + Corporate Group Barrancabermeja Refinery master plan, 188 GBTUD starting 2015 Cartagena Refinery master plan, 76.6…
  67. INVESTOR DAY – Ecopetrol S.A. – slide 67
    Petrochemicals: Strategy & goals Take advantage of market opportunities by adding more value to refining streams Production 2020: 2,700 TTY* ROCE: 13-15% 1 2 3 4 Profitable consolidation Growth with strategic Efficient…
  68. INVESTOR DAY – Ecopetrol S.A. – slide 68
    Biofuels: Strategy & goals To consolidate basket of products of our Corporate Group with alternative energies Production 2020: 450 Mtons/Yr 1 Positioning in the local 2 3 4 High potential Competitiveness in the Set the…
  69. INVESTOR DAY – Ecopetrol S.A. – slide 69
    Biofuels: Colombian market 2010 BIODIESEL PLANTS AND ETHANOL PLANTS IN OPERATION Biodiesel Current capacity Cesar 516.000 Tons/yr Magdalena Cundinamarca Head count Meta 30,960 Santander Ethanol Current capacity Cauca…
  70. INVESTOR DAY – Ecopetrol S.A. – slide 70
    Biodiesel: Key projects 2011-2020 Estimated Capex: USD 850 mn Demand and production 1,315 1,342 1,235 1,167 Demand Production 539 556 246 283 516 516 516 516 516 516 208 37 37 237 Ecodiesel Tanks - Barrancabermeja 2007…
  71. INVESTOR DAY – Ecopetrol S.A. – slide 71
    Ethanol: Key projects 2011-2020 Capex Projects Milestones (USD mn) Agricultural: 1,130 Has Dec, 2010 6,600 Has Dec, 2011 12,000 Has Aug, 2012 282 Bioenergy Industrial EPC start June 2010 Buiding start March2011 Start Up August…
  72. INVESTOR DAY – Ecopetrol S.A. – slide 72
    Financial Highlights Revenues, Ebitda, Margins, and Returns Financing strategy 74
  73. INVESTOR DAY – Ecopetrol S.A. – slide 73
    Solid financial performance driven by higher production and favorable prices (1/2) 14,1 Local Exports 12,8 9,6 4,9 9,4 Total Sales * 7,9 3,1 2,7 5,6 5,5 9,2 (USD bn) 4,8 6,9 7,2 3,9 2006 2007 2008 2009 1H-2010 Operating…
  74. INVESTOR DAY – Ecopetrol S.A. – slide 74
    Solid financial performance driven by higher production and favorable prices (2/2) 36% Net Income 18% 23% 19% 22% & Net Margin * 5,0 (USD bn) 2,2 2,4 2,1 1,5 2006 2007 2008 2009 1H-2010 Net income Net margin 47% 45% 44%…
  75. INVESTOR DAY – Ecopetrol S.A. – slide 75
    FINANCIAL RESULTS : 2Q-2010 Peers* Ecopetrol Min Max Sales growth (USD) 52% 2% 45% Operating margin 33% 6% 38% Ebitda margin 43% 10% 56% Net margin 22% 4% 22% Capex net change** 31% -33% 33% Financial debt / Assets 9% 5%…
  76. INVESTOR DAY – Ecopetrol S.A. – slide 76
    Flexibility and proven ability to fund the investment plan of USD 80 billion between 2011-2020 Source of funds for Capex USD 80 bn: 2011-2020 Conservative oil price assumption 10% Net cash generation Additional indebtedness…
  77. INVESTOR DAY – Ecopetrol S.A. – slide 77
    Strong cash generation allows funding operation and Capex 2,4 0,5 23,4 10,6 14,9 Cash Flow Jan-Dec 2009 3,5 2,4 USD bn 5,6 4,1 0,3 2,5 Cash Flow Jan-Jun 2010 0.3 12.2 - 5.8 USD bn 9.4 1.4 0.7 0,01 .4.4 2.5 - -…
  78. INVESTOR DAY – Ecopetrol S.A. – slide 78
    Financing Strategy: Optimizing capital structure and diversifying local and international sources Balance Sheet Jun/10 (USD bn) 30.5 Cash and Financial Diversified sources of funding 2,3 equivalents Obligations Bonds Commercial…
  79. INVESTOR DAY – Ecopetrol S.A. – slide 79
    Equity primary offering of 9.9% Capitalization (Law 1118-06) Rounds 2-3 of primary offering Pre 2006 1 100% Gov Government 100% Up to 2 additional rounds Round 2: Only for Colombian investors 2 Capitalization 2006 Government 80%…
  80. INVESTOR DAY – Ecopetrol S.A. – slide 80
    Closing Remarks 82
  81. INVESTOR DAY – Ecopetrol S.A. – slide 81
    Closing remarks 1,000,000 & 1,300,000 Clean barrels ACCIDENTS ENVIRONMENTAL INCIDENTS NORMAL INDUSTRIAL RELATIONS HARMONY WITH OUR STAKEHOLDERS And Sustainable THREE DIMENSIONS : FINANCIAL, ENVIRONMENTAL & SOCIAL 83
  82. INVESTOR DAY – Ecopetrol S.A. – slide 82
    INVESTOR RELATIONS Phone + 571 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 84
  83. INVESTOR DAY – Ecopetrol S.A. – slide 83
    Q&A 85
  84. INVESTOR DAY – Ecopetrol S.A. – slide 84
    Sep ENERGY FOR THE FUTURE Ecopetrol S.A. All rights reserved. The re production of this presentation is forbidden without the written authorization of Ecopetrol S.A. 86

From the store

Browse maps, data & reports in the Shale Experts store