During the presentation ofe Econova (Friday, February 17), Ecopetrol’s open innovation network, with which steps will be taken to consolidate the energy transition, Felipe Bayon, president of the company, spoke about fracking and the changes that are taking place in the company.
(See: Econova, the network with which we will walk towards the energy transition).
On ‘fracking’, Bayón was blunt: “We have worked for many years on comprehensive research pilot projects for the development of unconventional products, but if the Government, specifically Congress, decides that there is no ‘fracking’, we will not do ‘fracking’“.
If the decision, then, is not to allow ‘fracking’, the manager explained the plan that Ecopetrol has.
(See: Ecopetrol does not rule out sale of ‘fracking’ business in the United States).
“We will look for other sources of traditional hydrocarbons. We want to be more gassy. In the Colombian Caribbean we have made very important and great discoveries in this regard. We are doing very interesting things“, held.
and insisted that the country needs more gas: “Gas is essential for the transition“.
Furthermore, he explained that “We are doing seismic exploration in Santander, one of the largest studies, and we are taking the seismic and we are reprocessing it with new technology“. This with the intention of finding more traditional hydrocarbons.
(See: Why fracking in the US is Ecopetrol’s most profitable business).
Regarding the departure of Carlos Cano from the board of directors, Bayón assured that Ecopetrol has not received any communication from the director.
(See: The reasons for the resignation of Carlos G. Cano from the Board of Ecopetrol).
asked by who will be his replacement in the Presidency, remembered that this is a responsibility of the board of directors which “since it is working judiciously and diligently” to resolve that requirement.
Felipe Bayón became the President of Ecopetrol in 2017.
It is worth remembering that Bayón will be in charge of the oil company until March 31, 2023, since, at the end of January, it was known that the board of directors made the decision that he will not continue in the Presidency.
Regarding the present of the company, the current manager said that “Ecopetrol is among the five safest companies in the world” and stated that “The company’s production has recovered: it has greater refining capacity, with the expansion of the Cartagena refinery (2022), with 200,000 barrels of capacity“.
(See: Ecopetrol suspends fracking in the country and ends alliance with ExxonMobil).
He ended by saying that the oil company is a leader in energy transition, with 208 megawatts of renewables and a goal of 900 megawatts by 2025.
Likewise, that by 2023, “Two projects would be approved to produce 9,000 tons of green hydrogen each, which would be used, initially, for industrial issues“.
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