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Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A.

Ecopetrol S.A. · Sep 30, 2019 · 33 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. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 1
    Credicorp Capital XVII Andean Investor Conference 2019 September, 2019 1
  2. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 2
    Delivering sustained results amid a challenging environment 755 761 718 715 720 726 120 X=99 X=54 X=45 X=55 X=72 X=66 45.4% 45.8% EBITDA 100 41.8% Margin 37.1% 37.7% 34.7% 80 67.8 66.0 USD/Bl 55.2 60 52.1 47.7 40…
  3. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 3
    Operating results: committed to achieving our goals Exploration Midstream 10 +5.2% Wells drilled Transported Volume 1H 2019 1H 2019 Vs. 1H 2018 3 with presence of Active commercial hydrocarbons strategy Production Downstream…
  4. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 4
    We continue our positive trend of incorporating reserves: RRR at 129%, the highest level in four years Proven Added Technical and Commercial Management Reserves 260 MMBOE 307 MMBOE 160 1,659 47 1,727 239 74 The highest Reserve…
  5. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 5
    Strategy 2020+: Creating value as an integrated Group Existing Fields Reserves and Production Growth Exploration Unconventional in Colombia Competitiveness and Sustainability Strict Capital Cash Protection…
  6. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 6
    UPSTREAM 19
  7. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 7
    Exploration in Colombia: 2019 Plan contributing to short and medium term reserves addition 2019 Investment Plan Commitments 1H 2019 Exploration Activity 12 Exploratory wells 50,000 km of seismic GoM - MEXICO PURCHASE OF SEISMIC…
  8. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 8
    The growth strategy is focused on identifying new volumes (HCIIP) and developing the potential of current assets 2019 2021 Strategic Priorities 6M 2019 Results Production (mboed) mboed 720 720 - 730 740 - 760 750 - 770 900 721…
  9. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 9
    EOR-IOR opportunities represent a potential 3.4 BBOE* Cumulative Gross Potential Volume (BBOE) Recovery Development CAPEX US 6 8 Bn Factor Breakdown by Technology Main Assets HCIIP** 55.3 (US Bn) (US Bn) Basic/Primary 3.5 4.5…
  10. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 10
    Internationalization in high prospective basins US Unconventionals Projects under evaluation position Current Drivers: know how / short cycle access GoM - USA Mexico Brazil K2, Gunflint and Blocks 6 and 8 awarded position…
  11. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 11
    Strengthening the international portfolio Ecopetrol leo e Gas do Brasil Ecopetrol America LLC - EA Equatorial Margin: Technical evaluation of FOZ DO CEA prospects and compliance of the R AMAZONAS exploration commitments. 200 km…
  12. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 12
    Unconventionals in US: JV with OXY will allow us to book 160 mmboe of proven reserves in 2019 and reach a peak production of 95 kboed in 2027 Transaction Joint Venture (JV) agreement with Oxy to develop oil and gas properties in…
  13. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 13
    Ecopetrol to Book 160 mmboe of Proven Reserves in 2019 and Reach a Peak Production of 95 kboed in 2027 Expected Total JV Production Transaction expected to add 160 mmboe of proved undeveloped reserves upon closing1 200 (kboed)…
  14. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 14
    A transformational transaction for Ecopetrol EBITDA (US Bn) 1.1 0.2 Knowledge and Technology Improved Portfolio Structure 10.4 Transfer 7.8 International onshore presence 6 High level of planned activity provides rapid…
  15. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 15
    Knowledge and technology transfer accelerates ecopetrols learning curve in unconventionals Strategic link to Colombia Comparison of Colombias Unconventional vs Midland Basin Tailored Secondment Agreement with Oxy to transfer…
  16. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 16
    8 Geologic Basins with Unconventional Potential S-SJ Sin San Jacinto* CR Cesar Ranchera Shale oil up to 0,2 bnboe CBM and Shale gas 10 TCF (e) Shale gas 2 and 66 TCF VIM Lower Magdalena Valley* Cat Catatumbo Shale gas 0.8 and…
  17. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 17
    MIDSTREAM Transporte 31
  18. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 18
    Focused on achieving higher efficiencies of oil pipelines and capturing growth opportunities of product pipelines 2019 2021 Strategic Priorities 6M 2019 Results 3.2 2.9 Transported Volumes 2.5 1,100 1,250 mbd 2.3 COP Tn…
  19. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 19
    DOWNSTREAM 34
  20. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 20
    Capturing value from current assets and profitable investments, in response to current market conditions 2019 2021 Strategic Priorities 6M 2019 Results Average DailyThroughput Throughput 370 400 mbod 222 215 221 223 229 196 229…
  21. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 21
    Generating synergies as an integrated company to take advantage of IMO 2020 UPSTREAM MIDSTREAM Greater production of light crudes by 41% Supply chain optimization to ensure the quality of the refineries' (17 mbd to 27 mbd) diet.…
  22. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 22
    Financial Results Resultados Excepcionales
  23. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 23
    Main indicators support our financial strength EBITDA Margin Gross Debt Net Debt / EBITDA* / EBITDA* 45.7% 1.2x 1.0x 45.4% 45.7% 2.9 37.7% 41.8% 1.9 2.4 1.2 1.2 1.5 1.0 1.0 2016 2017 2018 1H 2019 2016 2017 2018 1H 2019 2016…
  24. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 24
    Strategic investments: focused on growth and sustainability USD Bn Expected FY CAPEX execution +38% USD Bn 4.4 - 4.9 0.26 0.09 0.03 0.01 Inorganic 0.9 0.9 1.0 1.4 1H 2018 E&P Down Mid Corp 1H 1H 2019 2019 USD M Initial Pay.…
  25. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 25
    Our strong cash generation underpins our financial priorities 2019 - 2021 Cumulative Cash Flow* Financial Priorities Initial Balance 5 Profitable Value creation Optimal leverage Operating Growth for our shareholders management…
  26. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 26
    The achieved results place the Group in a robust competitive position ROACE ROACE (%) 2018 54 45 55 72 66 65 14 12 13.1% 13.4% ECP* 10 11.0% 8 8.6% 6 4 2 2.7% 1.9% 0 -2 2015 2016 2017 2018 1H LTM 2019 2019 - 2021…
  27. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 27
    We continue making efforts to improve our cost efficiency Finding and Development Cost Dilution Cost 3-year average vs peers (2016-2018) Dilution Cost Dilution Factor 20.0% 19.8 10 20.0% 17.3 16.3 9 14.8% 14.8% 14.6% 14.8%…
  28. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 28
    New 2019 2023 savings target shows our commitment to efficiency and transformation Exploration Corporate & Digital Agenda Regional competitive practices Projects procurement Greater synergies between Digital Transformation- First…
  29. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 29
    New 2019 2023 savings target shows our commitment to efficiency and transformation Exploration Corporate & Digital Agenda Regional competitive practices Projects procurement Greater synergies between Digital Transformation- First…
  30. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 30
    Ecopetrol commits to reducing its greenhouse gas emissions 20% by 2030 CO2 Emissions Reduction Water Recycling Sulfur Content Diesel B2* (Tons CO2-equivalent) (Millions of cubic meters ) (National Average PPM) 2010 2011 2012 2013…
  31. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 31
    Strategic delivery on track Access to the Permian US- in partnership with OXY Strategic milestones Larger position in the Pre-salt in Brazil Definition of crude transport tariffs Solid financial results Operational results in…
  32. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 32
  33. Credicorp Capital XVII Andean Investor Conference 2019 – Ecopetrol S.A. – slide 33
    OIL AND GAS INFRASTRUCTURE 49

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