PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 20.Feb.2025) — Bogotá-based Ecopetrol SA boosted its net proven crude oil, natural gas and condensates reserves (1P reserves) to 1,893 million barrels of oil equivalent (MMboe) at year end 2024, up 10 MMboe compared to 2023. The company’s reserve replacement ratio was 104%, and the average reserve life was 7.6 years — 7.8 years for liquids and 6.7 years for gas.
89% of the reserves originated from fields in Colombia and the remaining 11% in the US, Ecopetrol announced on 20 Feb. 2025 in an official statement.
