As part of its process to review the corporate structure, the Ecopetrol SA (BVC: ECOPETROL; NYSE: EC) board of directors, at its meeting August 18, 2017, authorized:
- Taking necessary measures under applicable law to liquidate Ecopetrol Global Capital SLU, a wholly-owned subsidiary of Ecopetrol SA domiciled in Madrid, Spain. That company is currently inactive and is no longer needed by the business group.
- Taking necessary measures under applicable law to liquidate ECP Oil and Gas Germany, a company domiciled in Frankfurt (Germany) that is wholly owned by Ecopetrol SA through its Spanish subsidiary Ecopetrol Global Energy SLU. The liquidation will be finalized after completing the process of canceling the registration of that company's branch in Angola, as it has already completed the process of withdrawing from exploratory blocks 38/11 and 39/11 in that country.