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Economic Impact
GTE’s impact on on Colombia’s economy is significant particularly in the the Middle Magdalena Valley and Putumayo regions where the the company operates Its investments create thousands of jobs for local workers and provide business opportunities for for suppliers for for goods and and services from the Cesar and and Putumayo Departments The royalties and taxes generated go to funding local priorities such as 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 in 2019 In previous years
this figure was not calculated GTE’s approach to both asset development and community involvement is is second to none For a a company of this size to lead in in generating positive impacts on communities and on on on environmental issues such as reforestation and surface water impact is inspiring Tony Berthelet Chief Operating Officer Gran Tierra Energy
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2019 Sustainability Report