Page 9 - Corporate Responsibility Report 2018

Gran Tierra’s Economic Impact
Economic Value Generated1
TOTAL REVENUES TO COLOMBIA2
$791 MILLION
PAYMENTS TO SUPPLIERS, CONTRACTORS AND OTHER PARTIES
$468 MILLION
TAXES AND ROYALTIES
$193 MILLION
EMPLOYEE SALARIES AND BENEFITS
$25 MILLION
INVESTMENTS IN COMMUNITIES
$9 MILLION
SOCIAL INVESTMENTS
$2.4 MILLION
Economic Development 07
1Figures in USD (2018 Millions of Dollars).
2Economic Value Generated and Distributed is calculated as the sum of total Colombia Capex, Opex and G&A, plus royalties and taxes
Gran Tierra contributes to local, regional and national economic development in Colombia in numerous ways, including through taxes, jobs, royalties,
local procurement of supplies and services, training and education programs and voluntary social and environmental investments.
Operations Performance
These revenues were generated from the development and production of our oil resources in Putumayo and the Middle Magdalena Valley. Gran Tierra’s efforts led to a significant increase in production from the company’s Acordionero fields in Cesar Department which drove overall production growth.
+357%
GROWTH IN OIL PRODUCTION IN ACORDIONERO SINCE ACQUIRING THE FIELD IN 2016
TOTAL PROVED RESERVES OF OIL AND GAS
TOTAL PROVED PLUS PROBABLE PLUS POSSIBLE RESERVES
204 MMBOE
TOTAL PROVED PLUS PROBABLE RESERVES
TOTAL COMPANY 2018 AVERAGE PRODUCTION3
36,209 BOEPD2
2018 PRODUCTION GROWTH IN COLOMBIA
23
DEVELOPMENT WELLS DRILLED IN 2018
5
EXPLORATION WELLS DRILLED IN 2018
28
TOTAL WELLS DRILLED IN 2018
66 MMBOE1
142 MMBOE
1Million Barrels of Oil Equivalent. 2Barrels of Oil Equivalent per Day. 3Before royalties. All figures as of December 31, 2018