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Colombian state-owned oil company Ecopetrol reported that its proven reserves of oil, condensate and natural gas rose to 1.659 billion barrels of oil equivalent at the end of 2017. The company's reserve replacement index was at 126%, and the average life of its reserves is currently 7.1 years. The data includes Ecopetrol's stakes in subsidiaries.
Out of this total, 95% of the proven reserves are owned by Ecopetrol, while Hocol, Ecopetrol America, and the Equi?n y Savia Per? stakes contribute with 5%.
The oil company reported that in 2017, the Grupo Ecopetrol incorporated 295 million barrels of oil equivalent of proven reserves, which means a positive change in the downward trend seen in recent years. The cumulative total production of the year was 234 million barrels of oil equivalent.
