Ecopetrol announces the completion of the transaction with Repsol to acquire 45% of its participation in Block CPO-09

Core Viewpoint - Ecopetrol S.A. has successfully acquired the remaining 45% interest in the CPO-09 Block from Repsol for 452 million USD, resulting in full ownership of this strategic asset in the Piedemonte Llanero region [1][2]. Group 1: Transaction Details - The acquisition was completed on February 5, 2025, following the approval from the Superintendency of Industry and Commerce of Colombia, which confirmed that the transaction does not restrict competition [2]. - The formal transfer of the 45% interest was executed through an amendment to the Hydrocarbon Exploration and Production Contract CPO-09 [2]. Group 2: Strategic Importance - The CPO-09 block is located in the Meta department of Colombia, covering several municipalities including Villavicencio and Acacías [3]. - This acquisition strengthens Ecopetrol's position in hydrocarbon exploration and production within the Llanos Orientales basin, consolidating its operational presence in the region [4]. Group 3: Company Overview - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production and holding significant positions in transportation, logistics, and refining [5]. - The company also has international operations in strategic basins across the Americas, including the Permian basin and the Gulf of Mexico, and holds leading positions in power transmission in several South American countries [5].