​

  ​ ​ ​

​

  ​ ​ ​

Asset

  ​ ​ ​

Exploration

  ​ ​ ​

​

​

​

Oil

​

retirement

​

and

​

​

​

​

investments

​

cost

​

evaluation

​

Total

Cost

  ​

  ​

  ​

  ​

Balance as of December 31, 2024

108,855

​

8,249

​

10,052

​

127,156

Additions/capitalizations (1)

4,691

​

18

​

5,843

​

10,552

Abandonment cost update (Note 23)

—

​

1,608

​

(30)

​

1,578

Disposals

​

(35)

​

—

​

(1)

​

(36)

Write off exploratory assets and dry wells (2)

—

​

—

​

(717)

​

(717)

Capitalized financial interests (3)

334

​

—

​

92

​

426

Exchange differences capitalized

2

​

—

​

1

​

3

Foreign currency translation

​

(5,694)

​

(152)

​

(357)

​

(6,203)

Transfers/reclassifications

​

3,972

​

16

​

(4,206)

​

(218)

Balance as of December 31, 2025

112,125

​

9,739

​

10,677

​

132,541

​

​

​

​

​

​

​

​

​

Accumulated depletion and impairment losses

  ​

  ​

  ​

  ​

Balance as of December 31, 2024

(72,930)

​

(6,444)

​

(116)

​

(79,490)

Depletion expense

(7,447)

​

(315)

​

—

​

(7,762)

(Loss) recovery of impairment (Note 18)

(244)

​

13

​

(41)

​

(272)

Disposals

5

​

—

​

—

​

5

Foreign currency translation

3,323

​

97

​

—

​

3,420

Transfers/reclassifications

77

​

(236)

​

124

​

(35)

Balance as of December 31, 2025

(77,216)

​

(6,885)

​

(33)

​

(84,134)

Net balance as of December 31, 2024

35,925

​

1,805

​

9,936

​

47,666

Net balance as of December 31, 2025

34,909

​

2,854

​

10,644

​

48,407

(1)

Includes mainly: a) Ecopetrol Permian for investments made in the drilling of wells and construction of facilities carried out in Midland/Delaware, b) Ecopetrol S.A. mainly the Rubiales, Caño Sur, Akacias and Castilla fields, and c) Hocol S.A. mainly the execution of the Llanos 100, Llanos 123, Saman, Vim8, Llanos 86-87-104, Malacate, La Cañada, SN-18, La Punta, Guarrojo and SSJN1 projects.

(2)

Includes the recognition in the expense of the exploratory activity of Ecopetrol S.A., mainly of the Papayuela and Buena Suerte wells.

(3)

Financial interest is capitalized based on the weighted average rate of borrowing costs.

​

  ​ ​ ​

​

  ​ ​ ​

​

  ​ ​ ​

Exploration

  ​ ​ ​

​

​

​

Oil

​

Asset retirement

​

and

​

​

​

​

investments

​

cost

​

evaluation

​

Total

Cost

  ​

  ​

  ​

  ​

Balance as of December 31, 2023

94,176

​

10,147

​

9,719

​

114,042

Additions/capitalizations (1)

9,101

​

23

​

1,417

​

10,541

CPO-09 assets in business combination (2)

424

​

—

​

326

​

750

Abandonment cost update (Note 23)

—

​

(2,085)

​

(3)

​

(2,088)

Disposals

​

(117)

​

—

​

—

​

(117)

Write off exploratory assets and dry wells (3)

—

​

—

​

(1,108)

​

(1,108)

Capitalized financial interests (4)

345

​

—

​

36

​

381

Exchange differences capitalized

2

​

—

​

—

​

2

Fair value adjustment in business combination (2)

208

​

—

​

88

​

296

Field reversal

​

16

​

2

​

—

​

18

Foreign currency translation

​

4,507

​

157

​

55

​

4,719

Transfers/reclassifications

​

193

​

5

​

(478)

​

(280)

Balance as of December 31, 2024

108,855

​

8,249

​

10,052

​

127,156

​

​

​

​

​

​

​

​

​

Accumulated depletion and impairment losses

  ​

  ​

  ​

  ​

Balance as of December 31, 2023

(63,010)

​

(5,478)

​

(337)

​

(68,825)

Depletion expense

(7,083)

​

(874)

​

—

​

(7,957)

Loss of impairment (Note 18)

(254)

​

—

​

(79)

​

(333)

Disposals

91

​

—

​

—

​

91

Foreign currency translation

(2,431)

​

(80)

​

—

​

(2,511)

Transfers/reclassifications

(243)

​

(12)

​

300

​

45

Balance as of December 31, 2024

(72,930)

​

(6,444)

​

(116)

​

(79,490)

Net balance as of December 31, 2023

31,166

​

4,669

​

9,382

​

45,217

Net balance as of December 31, 2024

35,925

​

1,805

​

9,936

​

47,666

(1)

Includes mainly: a) Ecopetrol Permian for investments made in the drilling of wells and construction of facilities executed in Midland/Delaware, b) Ecopetrol S.A. mainly Caño Sur, Rubiales, Floreña and Castilla fields and c) Hocol S.A. mainly for the execution of the Llanos, Guarrojo, Perdices, Cor 9, VIM8, SN-18, Upar, Malacate, Guajira, Ocelote, Rancho Hermoso, and SSJN1 projects.

(2)

Ecopetrol signed a binding sale and purchase agreement (SPA) with Repsol Colombia Oil & Gas Limited (“Repsol”) to acquire a 45% interest in Block CPO-09 for USD $452 million, making it the owner of 100% of the participating interest in said block. As established in the agreement, December 31, 2024, was defined as the economic and control date of operations, on which Ecopetrol S.A. assumed the rights, responsibilities and obligations, including any income, costs and expenses of the asset. This transaction was recognized as a business combination (step acquisition).

(3)

Includes: a) Ecopetrol S.A. mainly the Orca1, Arantes1, Machin1, and Morito1 wells b) Hocol S.A mainly the Milonga, Yoda A, Arbolito Norte, Sabanales, Toritos, and Saltador wells and exploration and seismic expenses mainly in Llanos, VIM8, Perdices, Cor-9, SN-18, SSJN1, Upar, YD SN-1, SN-15, RC-7, c) Ecopetrol Brasil Pau Brasil well.

(4)

Financial interest is capitalized based on the weighted average rate of borrowing costs.