(102-16, 102-17, 205-3) IPIECA: GOV-2, GOV-3, GOV-4

Transparency and the prevention of compliance risks are essential in achieving our goal of being a leading oil and gas exploration and production company in Latin America that always respects our principles and the regulations of the countries we operate in.

To uphold our character and honor our commitments we created our Code of Ethics, a document that different members of the Company contributed to and that provides guidelines for the day-to-day work of all employees, suppliers and partners.

We meet our objectives while respecting our principles and regulatory frameworks

To protect the value we create we have a solid Compliance Program with prevention, detection and monitoring as its three main components.

The program belongs to the Compliance and Internal Control area, which is independent and is supported by a structure directed and coordinated by the Director of Legal and Corporate Governance, and which also involves the Director of Compliance, the Compliance and Internal Control areas and the Ethics Committee. It reports to the Board of Directors’ Audit Committee.

Promoting a Culture of Ethics is the main element in preventing compliance risks. Of the highest importance in this culture is the commitment of our leaders, who leading by example are the main ambassadors of our values. The Culture of Ethics also involves continuously training our people, transmitting our principles to different stakeholders, and having an Ethics Hotline that guarantees total confidentiality to employees wanting to make any observation about improper practices.

The indicators and management of our Compliance Program were communicated to all Company employees in a variety of ways.

All GeoPark employees are trained in our Compliance Program. In 2020 we trained 97% of employees through nine online sessions that included the induction of the new GeoPark team members who joined the Company through the acquisition of Amerisur.

In 2020 GeoPark Colombia took part in the Business Management Corruption Risks Survey, a pilot exercise independently carried out by the Colombian chapter of Transparency International among companies from the extractive sector with the aim of enhancing internal mechanisms to manage corruption risks.

97% of employees were trained in ethics and compliance in 2020, exceeding the goal set for the year.

We launched new awareness campaigns focused on Conflicts of Interest and Gifts & Donations commitments.


We are part of EITI Colombia.

As a reflection of our commitment to transparency, since 2019 we have been part of the Extractive Industries Transparency Initiative (EITI) in Colombia. EITI is a standard that improves understanding of natural resource management, strengthens corporate governance in the public and private sectors, and promotes greater transparency and accountability in the extractive sector. Companies that are part of EITI commit to report accurate and relevant information to the country to strengthen trust between the extractive sector and society. By 2020, 54 countries had voluntarily joined the initiative. For EITI’s 2019 report, published by Colombia’s Ministry of Mines and Energy in October 2020, GeoPark presented information about income tax payments, cash royalties and economic rights that matches the values reported by the Government. The accuracy in the comparison of the figures demonstrates the adherence to the law and the precision with which we handle the economic resources resulting from our activities.

Ethics Hotline

The hotline is our channel for reporting irregularities and behaviors contrary to our values, or to ask related questions. An independent third party runs the hotline, and when we receive notifications we activate our protocol that defines the procedures to manage the accusations. An Ethics Committee that supports the hotline is responsible for analyzing and investigating the accusations made and applying the relevant sanctions in accordance with protocols. The Committee is made up of directors of the Company, and its Secretary is the Director of Compliance.

In 2020, 100% of the accusations made through the Ethics Hotline were processed.

(205-3) SASB: EM-EP-510a.2 IPIECA: GOV-3
There have never been cases of fraud or corruption in GeoPark’s history.