Santander Court Revokes Fine On Ecopetrol

(Ecopetrol, 2.Aug.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) was notified of the decision issued by the Administrative Court of Santander that voided the 22 December 2011 and 8 August 2016 resolutions, respectively, through which the Ministry of Labor – Territorial Directorate of Santander, imposed a fine of sixteen million sixty-eight thousand pesos (COP16,068,000), on the occasion of the fatal accident of Mr. Oscar de Jesús Rodríguez, a Geoespectro SAS worker, an Ecopetrol contractor company. The company had previously informed of such fine through a prior publication.

In the judicial decision, the aforementioned Court declared that “(…) the rules on which the administrative act for the imposition of the sanction were supported were not applicable to ECOPETROL SA in view of the fact that this entity did not have the status of employer, nor as a supervisor; for which reason it is inadmissible to impute the breach (…)” and ordered the Ministry of Labor to return the value of the fine recognized by Ecopetrol as a reinstatement of its rights.