We manage the value chain

Prosperity is an essential component of our SPEED Value System and goes beyond benefit to our business, generating direct and indirect value for our neighbors and to the economies of the territories and regions we operate in.

(103-1) The development of our operations requires goods and services with an important local component delivered by suppliers or contractors, who we consider as our strategic partners. As these partners are fundamental in GeoPark’s development and growth we do not only invite them to participate in commercial processes for the execution of our operational projects, and we also implement programs to promote their growth and ongoing improvement.

(103-2) Our management of suppliers and contractors is defined in our Corporate Supply Commitment, which establishes the rules, standards, parameters and processes for contracting goods and services. Through this commitment, we have transparent, efficient and effective procedures to contract with others competitively.

We have initiatives to strengthen the competitiveness of the value chain and develop the best possible performance standards from suppliers and contractors. Similarly, we promote the creation of decent employment opportunities, the payment of fair wages, the development of training and training processes, and programs that promote the growth of these important commercial partners and positively impact the economy of the territories we operate in.

At GeoPark we know that contracting goods and services creates high expectations in the areas we have activities in, so we focus on promoting the selection of local suppliers and contractors as part of our commitment to invigorate regional economies, boost competitiveness and promote sustainable development.

(103-3, 102-9, 204-1) IPIECA: SOC-14 and SOC-15 In 2020 we bought goods and services from 1,796 suppliers and contractors for approximately $274 million. Within this amount, local goods and services totaled some $64 million, of which 55% was in Colombia, 32.4% in Chile, 8% in Argentina, 3.6% in Brazil and 1% in Ecuador. By buying local goods and services in the territories we operate in, we invigorate economies and support local businesses.

GeoPark suppliers and contractors, 2018 – 2020

*In 2018 GeoPark did not have any activities in Ecuador.

(204-1) IPIECA: SOC-14 and SOC-15 In 2020 the acquisition of goods and services decreased to $274 million from $355.6 million in 2019, due largely to reduced operations as a consequence of the pandemic and the fall in oil prices.

(102-9) IPIECA: SOC-14 and SOC-15 Our commitment to the value chain is based on responsibly managing our suppliers and contractors, based on respect for the principles of decent, dignified work, a genuine interest in contributing to the growth and strengthening of local suppliers and contractors, and creating indirect benefits to the economies of the regions and countries we operate in.

Our commitment to the value chain during the pandemic went beyond the minimums recommended by local authorities. In Colombia, we budgeted approximately $470,000 for economic aid, allowing jobs to be protected and the payment of monthly wages and social security contributions for two months, benefiting 1,130 workers and their families.

In 2020 we worked on making a Local Contracting Guide that aims to define rules for commercial relationships between GeoPark and local suppliers, to stimulate and ensure local participation in the development of our operations.

Creating employment opportunities for local workers is also an important objective in our value chain management for our operational activities in territories.

In Colombia we comply with the legislation that defines the parameters for hiring local labor in the hydrocarbons sector. Local labor therefore makes up 100% of our unskilled labor force, and at least 30% of skilled labor are people who live in the municipalities that we have activities in.


job opportunities were created for our neighbors through our contractors

In our operations in Colombia we created 2,413 local job opportunities in 2020 for workers from communities neighboring the Llanos 34 and
Platanillo blocks.


Local labor: Llanos 34 and Platanillo.

Llanos 34

of the local workforce was from Tauramena and Villanueva municipalities in Casanare.


of the local workforce was from Puerto Asis municipality in Putumayo.

In the PUT-8 Norte 3D Seismic project, which started in fourth quarter 2020 in the PUT-8 block in Putumayo, 73% of the 243 job opportunities we created were filled by residents of local municipality Puerto Asis.