1、2017S U S T A I N A B I L I T YR E P O R TW E L L-B E I N GC O N V E R T I N G B U S I N E S S G R O W T H I N T OTh a n k s t o i t s hu m a n ta l en ts ef f o r ts a n d th e c o o rd i n a ted work wi t h s t a ke h o l d er s,Pa rex w a s a b l e to m eet i ts g o a l s i n 2017.The C o m p a n
2、 y a c h i eved g rea ter i m p a c t i n i m p rov i n g th e q u a l i ty o f life o f t h o s e c o m m u n i ti es i n f l u en c ed by i ts o p er a ti o n s a n d h el p i ng to e x p a n d d eve l o p men t i n th e reg i o n s w h ere i t o p er a tes.A s a re s u l t o f o u r ef f o r ts i
3、 n b u i l d i n g s u c c es s f u l rel a ti o n ships,b a s e d o n d i a l o g u e a n d m eeti n g o u r c o m m i tm en ts to s ta keh o l de rs,Pa re x b e g a n o p er a ti o n s i n th e C a p a c h o s Bl o c k,l o c a ted i n the A r a u c a d e p a r t men t.On c e m o re w e d em o n s
4、tr a ted,a s w e d id in C a s a n a re,t h a t w e c a n c o n ver t o u r b u s i n es s g ro w th into c o mm u n i t y we l l-b ei n g.2017 was indeed a challenging year,but it was also?environment for the hydrocarbon industry due to low crude oil prices,increased community consultations and hei
5、ghtened opposition to oil and gas operations in different regions of the country,we delivered excellent operating results in the Casanare block and began oil production in the Capachos Block,in the department of Arauca.During 2017,we continued delivering sustainable growth in oil production and rese
6、rves.Our production averaged 35,541 barrels of oil equivalent per day,a 20%increase over 2016.In addition,we increased our proven plus probable reserves(2P)by?position.We acknowledge that our operating results go hand in hand with our stakeholder communication strategy that has allowed us to earn cr