RTTNews | Dec 9, 2021 07:13AM EST

07:13 Thursday, December 9, 2021 (RTTNews.com) - Ecopetrol S.A. (EC) said its Board has approved the 2022 organic investment plan for the Ecopetrol Group, for an estimated amount between $4.8 to $5.8 billion. About 70% of the investment is expected to be allocated to projects in Colombia, while the remaining 30% to investments in the United States, Brazil, Peru, and Chile. The 2022 investment plan is expected to be self-funded, the company said.

Ecopetrol noted that 63% of the investments are expected to be assigned to exploration and production projects. 20% are expected to be designated to ISA's projects, and the remaining 17% to be allocated to midstream, downstream, commercialization, and corporate projects.

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