February 01

Sales of ethanol, a mixture of gasoline and ethanol, began in Bogotá.

Casanare oil fields (Cusiana, Cupiagua and Floreña) production reached barrel number one billion.

Ecopetrol is rated Triple A for its corporate debt. The rating agency Duff & Phelps highlights “its sound financial position, considerable size of its reserves, stable levels of production, and leading position on the market”.

Ecopetrol has become the most important explorer of the Caribbean and has strengthened its presence in the offshore business. Another two exploration contracts with BHP Billiton are added to the Tayrona Block, where drilling is expected to begin in 2007.

Historic agreement: for the first time: the workers and the company reach a direct labor agreement and sign a collective bargaining convention for three years.

With 540,732 barrels per day, June was the month of the highest oil production in Colombia in 2006. Recovery in production is a constant throughout the year, in Ecopetrol’s direct production as well as in the entire country. The fields operated directly by the company produced an average of 157 thousand barrels during the year.

July 08

Ecopetrol and PDVSA began the construction of the gas pipeline that will start to operate between Colombia and Venezuela in 2008.

The gas processing plant in Cusiana reached maximum production capacity at 180 Mcfd.

The Government officially announced the capitalization process of Ecopetrol.

With the launching of the CRM, Ecopetrol implemented a new way to communicate with its clients.

Glencore was successfully made a new partner of Ecopetrol for the Cartagena Refinery.

The delivery of the last propane gas cooking equipment concluded the Rural GLP program, which benefits 203,213 families in 435 towns of 20 provinces in the country.

Petrobrás and Ecopetrol entered into cooperation agreements for the joint development of biofuels.

The Board of Directors approved Ecopetrol’s leap into the biodiesel market. Twenty-three million dollars will be invested in the plant, which will be located near the Barrancabermeja Refinery.

The Government announced that as of 2007 the Nation would directly assume the subsidies on fuels traditionally provided by Ecopetrol.

Tucano 156, in Brazil, is the first block to be explored by Ecopetrol in the international arena, after that country’s National Oil Agency awarded the area in development of the eighth bidding round. Petrobrás is a partner with a 70% share.

Association with Petrobrás is made official as a new strategic partner in the development of the Tibú field (Norte de Santander).