GeoPark adheres to the Oil & Gas Decarbonization Charter, the leading global alliance for the decarbonization of the industry

GeoPark, a leading independent energy company in Latin America, announced its adherence to the Oil & Gas Decarbonization Charter (OGDC), a global initiative launched at COP28 that brings together companies representing nearly 40% of the world's oil and gas production. With this adherence, GeoPark joins a select group of companies leading the climate transformation of the sector by adopting the most ambitious and verifiable commitments in terms of emission reduction.

The OGDC establishes a clear roadmap for companies in the sector to achieve net zero greenhouse gas emissions in scopes 1 and 2 by 2050, total methane emissions close to zero by 2030 in upstream operations, and eliminate venting and routine flaring within that same timeframe in operationally controlled activities. It is the most recognized and demanding decarbonization framework for the industry at the international level.

Joining the OGDC means entering the conversation where global companies are defining the highest standards of decarbonization. Being part of this group allows GeoPark to align with best practices in measurement, monitoring, and transparency, as well as access technical knowledge, advanced technologies, and comparable methodologies to accelerate its emission reduction process, improve methane management, and strengthen energy efficiency in its operations.

This entry is possible thanks to a track record marked by operational discipline and rigorous emission management by the Company. Initiatives such as the electrical interconnection of the Llanos 34 block, the incorporation of solar energy, the optimization of processes to achieve lower energy consumption, and the implementation of the leak detection and repair program (LDAR), have allowed the Company to sustainably reduce its emission profile, placing it below the global averages of the sector and supporting its entry into this alliance.

“This adherence recognizes the path we have already traveled at GeoPark and also reflects the ambition with which we want to continue growing: aligned with global standards and with a serious, technical, and rigorous commitment to decarbonization,” said Santiago Martínez, Sustainability Director of GeoPark.

The entry into the OGDC comes at a key moment for GeoPark, which is advancing in strengthening its strategy by taking care of its core business in Colombia and returning to a growth path, materialized in the recent addition of two operated blocks in Vaca Muerta (Neuquén, Argentina). This vision demands active management that, despite having different emission profiles, must be a true example of reliable, safe, and low-emission operations.

With its adherence to the OGDC, GeoPark reaffirms its commitment to advancing towards increasingly clean and efficient operations, contributing to the transformation of the energy sector in Latin America and the world.