Ecopetrol S.A.’s Net Production Volume (2018-2022)
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This statistic highlights Ecopetrol S.A.’s Net Production Volume, split across Crude Oil and Natural Gas, reported on a quarterly basis from Q1 2018 onwards.
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This statistic highlights Ecopetrol S.A.’s Net Production Volume, split across Crude Oil and Natural Gas, reported on a quarterly basis from Q1 2018 onwards.
Ecopetrol S.A.’s Net Production Volume:
| Segment | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Contribution (Q4 2022) |
| Crude Oil (Mboed) | 492.9 | 487.6 | 494.8 | 490.3 | 496.9 | 79.8% |
| Natural Gas (Mboed) | 129.8 | 132.3 | 135.3 | 138.2 | 126.0 | 20.2% |
| Total (Mboed) | 622.8 | 619.9 | 630.2 | 628.6 | 622.9 | 100.0% |
(All the figures are in Mboed, except percentages)
The production has been subject to various fluctuations, as seen in the table. In Q4 2022 compared to Q4 2021, the overall production was nearly the same, representing an insignificant percentage growth on a year-on-year basis. However, production decreased from 628.6 units in Q3 2022 to 622.9 units in Q4 2022, a decline in percentage of around 1% on a quarter-on-quarter basis.
In the above table, the symbol “Mboed” stands for certain measurements. Mboed represents thousands of barrels of oil equivalent per day (Production).
Crude Oil (Mboed):
Crude oil has the highest contribution in production volume, which is 79.8%. The amount of crude oil produced in Q4 2021 was 492.9 units, and in Q4 2022, it was 496.9 units, representing a very slight increase on a year-on-year basis. The production of crude oil varies only marginally, by 4-5 units more or less, every quarter.
Natural Gas (Mboed):
Natural Gas has a contribution of 20.2% in production volume. The volume of natural gas produced in Q4 2021 was 129.8 units, while in Q4 2022, it was 126 units, a decrease of 3% on a year-on-year basis. Natural oil production decreased from 138.2 units in Q3 2022 to 126 units in Q4 2022, representing a decline of 8.9% on a quarter-on-quarter basis.
About Ecopetrol S.A.
Ecopetrol was founded in 1951 as a state-owned enterprise in Colombia. Ecopetrol S.A. is Colombia’s largest oil firm and one of the largest in Latin America. It is a vertically integrated oil and gas corporation that engages in hydrocarbon exploration, production, refining, transportation, and marketing. Large oil and gas reserves are held by Ecopetrol, most of which are in Colombia. The corporation is engaged in both domestic and foreign exploration initiatives. Through exploration and acquisitions, it seeks to boost output and increase reserves. It has developed and expanded through time to become a significant participant in the oil and gas sector. Ecopetrol owns and manages many refineries in Colombia, including the country’s largest, the Barrancabermeja Refinery.
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