Margarita Obregon

Margarita Obregon (54) joined Ecopetrol in 2000 and has served as the Secretary of the Board of Directors and as Chief to the Support Office of the Chief Executive Officer since 2008. Prior to joining us, Mrs. Obregon worked in the supply department of Previsora S.A: Compañía de Seguros and as legal advisor of lands for British Petroleum Company - BP in Alvaro Rengifo y Cia. Mrs. Obregon also served as the head of the Business and Administration department of the Fiduciaria del Estado. Mrs. Obregon earned a law degree from Colegio Mayor de Nuestra Señora del Rosario with specialization degrees in financial law and administration law.

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Ecopetrol S.A., was organized on August 25, 1951 under the laws of Colombia. The Company is an integrated oil company with presence in Colombia, Peru, Brazil and the U.S. Gulf Coast. The Company divides its operations into four business segments that include exploration and production; transportation and logistics; refining and petrochemicals; and marketing and supply. Exploration and Production segment includes it crude oil and natural gas exploration and production activities. Refining and Petrochemicals segment includes its refining activities. Revenue is derived from inter-company and inter-segment sales, exports and third-party sales and corresponds to products processed in its refineries and its downstream subsidiaries such as motor fuels, fuel oils and petrochemicals at market prices. Marketing and Supply segment includes its revenues, costs and expenses associated with marketing and sale of products purchased from third parties and the ANH. The transportation and logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products. There are two main refineries in Colombia: Barrancabermeja, which the Company owns and operates, and Reficar, a wholly-owned subsidiary. It also owns two other minor refineries, Orito and Apiay. Its refineries produce refined products, including gasoline, diesel, jet fuel, liquefied petroleum gas, or LPG, and heavy fuel oils among others. Crude oil, natural gas and refined products are transported mainly through pipelines to its customers and the refineries. The Company markets refined and feed stock products locally which include regular and high octane gasoline, diesel fuel, jet fuel, natural gas and petrochemical products. The Company exports crude oil, LPG, butane, high and low octane gasoline, naphtha, jet fuel, natural gas and fuel oil. It currently has concessions granted by the Nation for four export docks for crude oil and refined products. The Company's operations are subject to national, state and local environmental regulations in Colombia. Environmental rules and regulations are applicable to its exploration, transportation, refining and production activities.

Margarita Obregon (54) joined Ecopetrol in 2000 and has served as the Secretary of the Board of Directors and as Chief to the Support Office of the Chief Executive Officer since 2008. Prior to joining us, Mrs. Obregon worked in the supply department of Previsora S.A: Compañía de Seguros and as legal advisor of lands for British Petroleum Company - BP in Alvaro Rengifo y Cia. Mrs. Obregon also served as the head of the Business and Administration department of the Fiduciaria del Estado. Mrs. Obregon earned a law degree from Colegio Mayor de Nuestra Señora del Rosario with specialization degrees in financial law and administration law.