Colombia
Press Release

Ecopetrol contractor bill hits US$3.3bn

Bnamericas Published: Thursday, October 13, 2022

This Ecopetrol statement was translated from Spanish by an automated system

Between January and August 2022, the companies of the Ecopetrol Group contracted goods and services for $15.3 billion (US$3.3bn) for the development of their activities in different regions of the country. The figure is equivalent to 4% of the General Budget of the Nation for this year, whose amount amounts to $350.4 billion.

With local suppliers from the regions where it operates, the Ecopetrol Group generated business opportunities for $3.1 billion. Of the total, $2.2 billion were contracted by the Group's companies and $900 billion by allied firms.

By areas of the country, the largest amount of contracting was reported in the Central region, which includes the Barrancabermeja refinery and the Magdalena Medio oil fields, with an amount close to $1 billion, followed by the Orinoquía region with $728 billion, Caribbean with $300 billion and the Andean-East region with $518 billion.

The results, which show the contribution to the economy and the commitment of the Ecopetrol Group with the business development of Colombia, were announced at the Suppliers Summit that took place in Bogotá on Wednesday, October 12, with the assistance of representatives from more than 3,400 contracting firms.

During the event, it was also learned that so far this year up to August, the Ecopetrol Group generated more than 93,000 full-time jobs through contractor companies. 84% corresponded to local labor, that is, people who are natives and live in the regions where they were linked.

Likewise, of the total jobs generated, more than 20,000 correspond to jobs that are difficult to find in the labor market: 17,033 for women, 131 for people with disabilities, 1,686 first jobs, 1,306 for members of ethnic groups, and 404 for victims of the conflict.

Additionally, the Ecopetrol Group carries out a program to support diverse productive enterprises, through which it promoted businesses for $46,200 million with more than 2,300 entrepreneurs from different areas of the country.

According to Carlos Andrés Santos, Vice President of Supply and Services, one of the keys to generating greater economic competitiveness in the regions has been joint work with allied companies.

“We have promoted the contracting of goods and services with local suppliers in the areas where we operate, and this translates into benefits for the communities and thousands of families. At the Ecopetrol Group, our commitment is to continue promoting inclusive bonding and contributing our best energy to contribute to the well-being of Colombians," Santos said.

In this way, Ecopetrol and its allied companies promote the economic growth and competitiveness of the country's companies, while contributing to the sustainable development of the regions.

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