Ecopetrol On Sale Of Stake In Offshore Int’l Group

(Ecopetrol, 19.Jan.2021) — Ecopetrol S.A. signed a Share Purchase Agreement with De Jong Capital LLC, through one of its subsidiaries as buyer, pursuant to which Ecopetrol sold its 50% ownership interest in Offshore International Group (OIG).

This divestment is the result of a successfully competed process between a number of bidders jointly carried out by Ecopetrol and its partner, in respect of the sale of 100% of the capital stock of OIG, the parent company of Savia (Peru) and other companies based in the United States and Peru.

The relevant accounting reclassifications have been made in accordance with IFRS 5.

This transaction is part of Ecopetrol’s non-strategic assets divestment plan and is aligned with Ecopetrol’s priorities of cash protection, capital discipline and profitable and sustainable growth.