HomeMarket NewsEcopetrol's Ambitious 2024 Plans: $6.7B Expenditure and 730K boe/day Production

Ecopetrol’s Ambitious 2024 Plans: $6.7B Expenditure and 730K boe/day Production

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Ecopetrol (NYSE:EC) has laid out bold plans to spend a staggering $5.7B-$6.7B and achieve a production target of 730K barrels of oil equivalent per day in 2024, reports Reuters.

The lion’s share of the planned expenditure, approximately $4.8B, is earmarked to maintain production levels at 725K-730K boe/day, ensure refinery throughput remains at 420K-430K barrels/day, and to facilitate the transportation of over 1M barrels per day, as disclosed by the Colombian state-run oil company.

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