Hocol announces commerciality in gas field in the Colombian Caribbean

• The Ecopetrol Group company announced the commerciality of the Arrecife field located in the Colombian Caribbean, which will provide gas resources for the country, at a time of supply deficit and increased need for thermal electricity generation.

• Hocol reaffirms its commitment to maintain exploratory efforts in the basins of the Colombian Caribbean for the discovery of new gas reserves and the acceleration of their production.

Hocol, a company of the Ecopetrol Group, will begin the development of the Arrecife Field, located in the department of Córdoba. It is estimated that the field will produce gas in commercial quantities until the year 2035. Hocol declared commerciality over the producing wells Arrecife-1ST, Arrecife-3, Arrecife Norte-1, and Coralino-1, whose accumulated production in extensive tests as of March 30, 2024, totals 6.7 billion cubic feet.

The initial daily production of the Field is estimated to be between 5 to 10 million cubic feet per day and is already available in the local market. With the declaration of commerciality, new investments associated with the establishment of permanent production facilities, drilling of development wells, and nearby exploration for new recoverable gas resources within block VIM-8 are planned. The total production potential is estimated to be between 20 and 30 million cubic feet per day to be reached by the year 2026.

“The declaration of commerciality of the new Arrecife gas field is the result of the sustained efforts and investments by Hocol and the Ecopetrol Group in the knowledge and exploration of the onshore basins of the Colombian Caribbean.

This important announcement confirms our strategic decision to strengthen Hocol's position, over more than a decade, as a gas producer in northern Colombia and to contribute to the objectives of energy transition and security in the country,” assured Rafael Guzmán, president of the company. This decision of commerciality reflects the company's commitment to contribute to the energy transition and face the challenges of gas supply for the country.

Voluntary social and environmental investment In the department of Córdoba, the Ecopetrol Group through Hocol has developed programs that facilitate productive inclusion and the strengthening of business capacities, benefiting more than 2,000 people from 11 communities.