Reinventing ourselves to compete internationally Strategy to 2020 May 26, 2015
Participants in the conference call Juan Carlos Magda Adriana Echeverri Echeverry Manosalva VP Growth and Hctor Manosalva CEO CFO Strategy VP Production Pedro Rosales Rafael Guzmn Max Torres VP Refining and Thomas Rueda…
Ecopetrol: a decade of success We have doubled Our growth has given us a new our production since 2006 positioning in the industry Average Crude Oil and Gas Production (mboed) Production Annual Growth 2007-2013 (%) 1,000 15 x2…
We are a global leader in development and production in brownfield and heavy crude oil fields Chuchupa Tib Cao Limn La Cira Cusiana Chichimene Rubiales Putumayo Castilla 5
But we face significant challenges The current level of oil prices drives us to strengthen the focus on value creation and business sustainability over volume Complexity of operations in Colombia requires a greater focus on…
In 2014 and 2015 we have made progress in addressing those challenges Capex reduction to 7.9 Bn USD Launch of the Business (-9.2% vs. 2014) Transformation Program Costs and expenses reduction Cost per barrel reduction (first of…
Our future will be focused on Exploration and Production in Colombia and abroad ... Building a panamerican E&P platform GoM Production Findings Caribbean Exploration Offshore Colombia Colombia We will leverage Brazil…
... reaping the benefits of investments made in Transportation and Refining Santa Marta Transportation Bicentenario Coveas Cartagena ODL Refining Ocensa Modernization of Ayacucho REFICAR Improvements in B/Bermeja Banadia…
Our strategy is built based in our strengths... Unique knowledge World class of the Colombian production level: environment 773 mboed Wealth generation Strong experience in for Colombias development and operation development…
Production will be focused on value generation, leveraging our excellent assets in Colombia Profitable barrels Recovery factor increase Focus on key assets Production of value adding Ecopetrol has the opportunity to Focus on key…
We are reinventing ourselves in Exploration to ensure future growth Strenghtening of capabilities Creation of a diversified exploratory portfolio We are building a strogn team, with over 20 with high quality plays years of…
Reinventing ourselves in Transport towards operational excellence Refined Products Oil Pipelines Pipelines Consolidation of the model Higher efficiency (opex reduction targets) Oil Ports Operational excellence and cash…
Reinventing ourselves in Refining and Petrochemicals towards operational excellence Reficar project completion in 2015, bringing conversion capacity and margin improvements Efficient business, profitable, well operated and…
We are reinventing ourselves from the efficiency: target of 6 Bn USD of structural cumulated savings by 2020 Structural savings targets 2015-2020 6B At least 1 Bn USD of yearly structural savings 2015 2016 2017 2018 2019…
We will apply strict financial and capital discipline to create value for our shareholders and ensure sustainability Capital discipline and racionalization of investments (6 Bn USD per year) Strategic objectives (2020 vs 2014) Total…
Agenda Introduction Strategy 2020 Closing remarks and Q&A 18
Reinventing ourselves to compete globally Value Creation Efficiency and capital Sustainability discipline We will pursuit We will replace efficient barrels We will achieve production through structural savings and…
We have already started the implementation of our strategy, working on 8 key areas: Ecopetrol Transformation Program Technology Efficiency Projects People Active Environment management of the portfolio Recovery…
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