Page 10 - 2019 Sustainability Report

Economic Impact
GTE’s impact on Colombia’s economy is significant, particularly in the Middle Magdalena Valley and Putumayo regions where the company operates. Its investments create thousands of jobs for local workers and provide business opportunities for suppliers for goods and services from the Cesar and Putumayo Departments. The royalties and taxes generated go to funding local priorities such as improved roads and infrastructure.
GTE’S 2019 ECONOMIC IMPACT IN COLOMBIA
$623.2M
Payments to Suppliers, Contractors and Other Third Parties
$152.6M
Taxes and Royalties
$22.7M
Employee Salaries and Benefits
$8.8M
Investment in Communities
$3.7M
Social Investments
$872.5 Million
Economic Value Generated and Distributed in USD
Total includes all Capex, Opex, G&A, Acquisitions, Taxes and Royalties in 2019. In previous years this figure was not calculated.
GTE’s approach to both asset development and community involvement is second to none. For a company of this size to lead in generating positive impacts on communities and on environmental issues such as reforestation and surface water impact is inspiring.
Tony Berthelet,
Chief Operating Officer, Gran Tierra Energy
2019 Sustainability Report
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