Managing New Business helps us to ensure that at GeoPark we always have a balanced portfolio of assets that contributes to the continuous growth of our Company.
(103-1) Inorganic growth directly contributes to the management of our Company’s prosperity through the constant incorporation of assets that generate long-term value for our shareholders and other stakeholders.
We are in constant contact with different players in the hydrocarbon market, including national oil companies, regulators, industry peers and investment banks, as there are opportunities with all of them to help us create value.
(103-2) GeoPark’s New Business management is an integral part of its corporate strategy as it contributes to the creation and achievement of long-term plans. Through it we define, for example, which basins and geological concepts in the region we want to explore for new opportunities.
In seeking to keep an optimal portfolio we define assets that could appropriately be divested, and we identify new strategic partners that provide knowledge or capital to balance the risk of our Company.
(103-3) In 2020 we were able to take advantage of opportunities that arose to optimize our portfolio, and agreed to divest two of our non-core assets in Brazil. This allows us to focus on blocks with the greatest generation of value for our shareholders and to receive funds to continue growing.