Future challenges

Value Generation

Leveraging the generation of economic value with long-term strategic partnerships that provide us with additional financing flexibility and seek new acquisitions.

Increasing the net asset value per share (VIPS) to 10%.

Achieving an operating cash flow per barrel of $11/boe.

Increasing the return to shareholders by 15%.

Continuing to monitor the potential impact of the pandemic on our financial situation, cash flows and operating results.

Value chain

Partnering with suitable entities to improve the labor participation of women in the value chain.

Ensuring that 100% of our contractors prioritize and implement good practices that respect human rights.

Implementing a scheduled program of direct attention and follow-up to the local contractor management and commercial relationships to reduce social conflict related to their expectations and incorporate better local supply practices.

Implementing good preventive management practices in the Oriente Asset (Ecuador) and supporting local contractors in other assets.

Asset management

Continuing to consolidate the new Business Model, based on the comprehensive management of our assets.

Continuing our exploration processes and knowledge of the deposits, maintaining the exploratory success and efficient costs and operations management of recent years.

Proving to Colombia’s National Hydrocarbons Agency the exploratory potential of blocks, accelerating the pace of activities.

Achieving a 95% production efficiency index.

Achieving a 95% drilling efficiency index.

Lowering drilling and workover costs by 3% from 2020.

New business

Achieving the scale of production, reserves and resources that matches the long-term objectives of the Company and having alternatives for organic and inorganic growth.

Diversifying the portfolio of assets while balancing risk between countries and a mix of oil and gas.

Recommending five new projects with an IRR greater than 15%.