It is the first link in Ecopetrol's value chain. Its main objective is to explore, discover and appraise commercially viable hydrocarbon accumulations, seeking to ensure the reserve replacement required for the sustainability of the Ecopetrol Group. To centralize, unify and manage hydrocarbon exploration activities, Ecopetrol has an exploration process that integrates all the subsidiaries of the Group, and determines the requirements and decision-making instances throughout the life cycle of an exploration project, in order to promote operational discipline and planning in exploration opportunities. Additionally, the exploration process seeks to optimize exploration portfolio management, while maintaining high technical assurance standards, directing efforts towards compliance with the exploration strategy and to streamline the process of maturing opportunities, converting them to discovered contingents and reserve resources.
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