BOGOTÁ, Colombia – Ecopetrol S.A. (BVC: ECOPETROL. NYSE: EC) announced today that its proven reserves of oil, condensate, and natural gas reached 1,944 billion barrels of oil equivalent (mmboe) as of the end of 2025, a 2.7% increase compared to the end of 2024, despite a decrease in the Brent crude oil reference price.
The company reported a reserves replacement ratio of 121%, signifying that it replaced more oil and gas than it produced during the year. This marks the highest reserves replacement ratio Ecopetrol has achieved in the last four years, according to a press release issued by the company. Proven reserves totaled 300 mmboe, also the highest value in the last four years.
The increase in reserves was driven by enhanced recovery projects in the Castilla, Chichimene, and Akacias fields, improved operational management in Rubiales and La Cira–Infantas, and contracts with Colombia’s National Hydrocarbons Agency (ANH). Specifically, contracts with the ANH contributed 100 mmboe through crude-oil royalty allocations from several fields, including Castilla, Akacias, and Yariguí–Cantagallo.
Despite a 13.9% decrease in the 2025 Brent reference price, falling from USD 79.69/Bbl in 2024 to USD 68.64/Bbl, Ecopetrol maintained its strong reserves performance. The company stated this demonstrates effective management aligned with its long-term sustainability and resilience strategy.
As of December 31, 2025, Ecopetrol’s proven reserves consisted of 1,892.7 mmboe from the previous year, with additions from revisions, enhanced recovery, extensions, and discoveries, offset by production. The company’s average reserve life now stands at 7.8 years.
Ecopetrol, Colombia’s largest company, is responsible for over 60% of the nation’s hydrocarbon production and operates the majority of its transportation, logistics, and refining systems. The company also holds significant positions in petrochemicals and gas distribution. Through its subsidiary ISA, Ecopetrol participates in energy transmission, real-time systems management, and road concessions in several South American countries, including Brazil, Chile, and Peru.
99% of Ecopetrol’s proven reserves have been certified by independent firms Ryder Scott Company, DeGolyer & MacNaughton, and GaffneyCline & Associates. Ecopetrol’s financial and operating results for the fourth quarter and full-year 2025 are scheduled to be released on March 4, 2026.
