Our value generation
We leverage growth in Latin America by entering into contracts with the governments of the countries where we operate and engaging with strategic partners in the sector to achieve our exploration and production targets. Access to debt and capital markets, together with the consolidation of a highly experienced technical team, has allowed us to sustain a successful track record of oil and gas discoveries and production. We have a risk-balanced asset portfolio, with assets that generate cash flow and have the potential to grow both production and reserves.
economic performance
We continuously evaluate alternatives to improve our capital structure, increasing our cash balance or equivalent and reducing or refinancing debt. These alternatives include initiatives such as asset sales and public or private financing through debt or equity issuance.
Financial and operational management
Our portfolio in 2022 has exploration and production assets covering over 2 million hectares in Colombia, Ecuador, Chile, Brazil and Argentina. We have a well-balanced asset portfolio that includes operating and/or economic interests in 38 hydrocarbon blocks, 37 of which are onshore and 9 are in production as of December 31, 2022.
New business development
For us, the management of new businesses is the identification, analysis, evaluation and development of inorganic growth opportunities that allow the incorporation of new oil and gas blocks and fields into our portfolio and contribute to the creation of value for our shareholders and other stakeholders. We have prioritized this as a material topic because of its potential to positively impact our internal and external stakeholders and because its management requires the adoption of the highest social, environmental and corporate governance standards.
operational excellence and innovation
We understand Operational Excellence as the development of our operations in strict compliance with health, safety, environment and efficiency standards, responding to the needs of our customers, promoting continuous procedural improvement, respecting the environment and being a good neighbor. Within the framework of our SPEED Integrated Value System, this material topic is part of the pillars of Safety, Prosperity, Employees and Environment, and provides the guidelines to deliver on our promise to stakeholders of creating value.
responsible supply chain management
Aware of the challenges facing the oil industry, we seek to leave a legacy of prosperity in neighboring communities through a sustainable development model that respects local and regional dynamics. It is part of our essence to work closely with communities, suppliers and neighbors, seeking to consolidate sustainable business management in the places where we operate, impacting positively on people’s lives.