BOGOTA,
Colombia, Feb. 28, 2024 /PRNewswire/ -- Ecopetrol
informs that on February 27, 2024 its
subsidiary Refineria de Cartagena S.A.S. (Reficar) was notified of
the decision of a United Kingdom
court to approve the restructuring plan of CB&I UK Limited, a
subsidiary of McDermott International Ltd., and consequently to
discharge CB&I UK Limited's payment obligation to Reficar under
the arbitral award of June 2,
2023.
Separately, it is expected that in March
2024 a Dutch court will approve a restructuring plan
submitted by an independent expert appointed by such court for
Chicago Bridge & Iron Company N.V. (CB&I N.V.), another
subsidiary of McDermott International Ltd. If the
restructuring plan is approved as submitted, Reficar could receive,
among others, preferred shares convertible into 19.9% of the common
stock of McDermott International Ltd. in satisfaction of CB&I
N.V.'s payment obligation to Reficar under the arbitral award of
June 2, 2023.
Ecopetrol is the largest company in Colombia and one of the main integrated energy
companies in the American continent with more than 18,000
employees. In Colombia, it is
responsible for more than 60% of the hydrocarbon production of most
transportation, logistics, and hydrocarbon refining systems, and it
holds leading positions in the petrochemicals and gas distribution
segments. With the acquisition of 51.4% of ISA's shares, the
company participates in energy transmission, the management of
real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the
international level, Ecopetrol has a stake in strategic basins in
the American continent, with Drilling and Exploration operations in
the United States (Permian basin
and the Gulf of Mexico),
Brazil, and Mexico, and, through ISA and its subsidiaries,
Ecopetrol holds leading positions in the power transmission
business in Brazil, Chile, Peru,
and Bolivia, road concessions in Chile, and the telecommunications
sector.
This press release contains forward-looking statements which
are based on current expectations and assumptions about future
events and which can be identified by the use of forward-looking
terminology such as "may", "will", "should", "expect",
"anticipate", "estimate", "intend", "continue", or "believe" or
other words of similar import, and which forward-looking statements
also include certain projections, forecasts, budgets and other
estimates. These forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements.
Many of these risks and uncertainties relate to factors that are
beyond the Ecopetrol's control. Ecopetrol does not undertake any
obligation to provide any additional information or to update this
press release or to correct any inaccuracies that may become
apparent, whether as a result of new information, future events or
otherwise. You should not place undue reliance on forward-looking
statements, which speak only as of the date of this press
release.
For more information, please contact:
Head of Capital Markets
Carolina Tovar
Aragón
Email: investors@ecopetrol.com.co
Head of Corporate Communications (Colombia)
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co
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SOURCE Ecopetrol S.A.