Ecopetrol announced a few days ago that it had decided not to acquire the stake in CrownRock’s assets, which correspond to unconventional fields (fracking). It should be noted that this company, which operates in the Permian, in the United States, and which belongs to Oxy,
“At the meeting of the Board of Directors on July 31, 2024, After the analysis and evaluation by the company’s management bodies, the decision was made not to acquire the stake in the assets of the CrownRock company,” noted the Financial Superintendency.
José Antonio Ocampo, former Minister of Finance, spoke about this issue on Vicky en SEMANA, where he confessed that for him it was a mistake by the government of President Gustavo Petro not to have made that important investment. He also emphasized that the president should not have made that decision.
“I think that investment with Oxy should have been made. In my opinion, the decision should have been made by the board of directors. I think it was a good project and very profitable for Ecopetrol, therefore, it should have been continued,” initially stated.
Then he sentenced: “In addition, Ecopetrol needs additional resources, which can be for the national budget due to the profits they generate. I think that it was an incorrect decision and that the announcement should have been made by Ecopetrol, and not the president.”
It should be noted that CrownRock currently has a production of around 170,000 barrels per day and proven reserves exceeded 660 million barrels. It was an interesting operation because it not only brings barrels today, but also the possibility for Ecopetrol to increase reserves.
Former Finance Minister José Antonio Ocampo also took advantage of the conversation with this media outlet to point out that he was surprised that Laura Sarabia, current director of Dapre, was in charge of making announcements about economic reactivation in Colombia.
Ocampo finally reiterated on Vicky en SEMANA how “inadequate” the head of state’s proposal is with respect to forced investments, after he announced last Friday that he will submit the project to the Congress of the Republic.
