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Appointment of Vice-President of Supply and Services and Corporate Manager for Ecopetrol´s Internal Audit Office

BOGOTA, Colombia, Sept. 2, 2016 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that civil engineer Alberto Consuegra Granger has been appointed Vice-President of Supply and Services and that accountant Ricardo Montes Gómez has been appointed Corporate Manager for Ecopetrol´s Internal Audit Office.


Mr. Consuegra is a civil engineer who graduated from Cartagena University and has a master's degree in Pavements and Construction Management from Texas A&M University.

His latest post was Vice-President of Exploration and Production at Equión Energía Limited, where he also served as Vice-President for Projects and Production.

He began his professional career in 1984 by working for Morrison Knudsen International as a contract coordinator during the construction of the Cerrejón project. In 1993 he joined Ecopetrol, working in the Cartagena Refinery Projects group, afterwards, he went on to BP Exploration, where he worked for 16 years starting as a contract coordinator, then as procurement and contract manager, then human resource manager for the Andean area, and the leader of the Colombian Performance Unit.

Mr. Montes, with more than 30 years of experience in the oil and gas industry, is a public accountant who graduated from the Externado University of Colombia and holds a specialty in Financial Planning and Control of Oil and Gas Companies from Southern Methodist University at Dallas, Texas and a master's in Business Management from Inalde (Sabana University).

Recently, he served as financial vice-president at Marsa Energy Inc. and executive director at Marsa Turkey BV, an oil and gas company, where he, as a founding partner, was involved in the development and execution of corporate strategy. He also listed the company at the Toronto Stock exchange (TSX-V).

He was also corporate comptroller in Value Creation Inc, in Calgary, financial director for Brazil and Colombia at BrazAlta Resources Corp, financial director in Solana Resources Limited and regional financial accounting manager and financial manager for different countries with the Royal Dutch Shell group.

Ecopetrol is the largest company in Colombia and is an integrated oil & gas company; it is among the top 50 oil companies in the world and among the four top ones in Latin America. Besides Colombia - where it generates over 60% of the national production - it has exploration and production activities in Brazil, Peru & the US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.

This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.

For further information, please contact:

Head of Corporate Finance and Investor Relations (A)
Lina María Contreras
Phone: (+571) 234 5190

Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: + 571-234-4329

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SOURCE Ecopetrol S.A.

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