ECOPETROL S.A. | CIK:0001444406 | 3

  • Filed: 4/26/2018
  • Entity registrant name: ECOPETROL S.A. (CIK: 0001444406)
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    • ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory

    15.
    Property, plant and equipment
     
    The following shows a breakdown of the changes in property, plant and equipment and depreciation and impairment for the years ended December 31, 2017 and 2016:
     
     
     
    Plant and
    equipment
     
    Pipelines, 
    networks
    and lines
     
    Work in
    progress (1)
     
    Buildings
     
    Lands
     
    Other
     
    Total
     
    Cost
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of December 31, 2016
     
     
    42,608,276
     
     
    29,087,782
     
     
    4,874,406
     
     
    6,911,757
     
     
    3,894,220
     
     
    3,482,439
     
     
    90,858,880
     
    Additions/capitalizations
     
     
    904,854
     
     
    876,940
     
     
    (102)
     
     
    363,836
     
     
    14,631
     
     
    203,124
     
     
    2,363,283
     
    Increase in abandonment costs
     
     
    51,619
     
     
    105,097
     
     
    -
     
     
    -
     
     
    -
     
     
    -
     
     
    156,716
     
    Capitalized financial interests
     
     
    38,847
     
     
    33,875
     
     
    8,501
     
     
    6,941
     
     
    1,027
     
     
    20,113
     
     
    109,304
     
    Exchange differences capitalized
     
     
    2,636
     
     
    2,299
     
     
    577
     
     
    471
     
     
    70
     
     
    672
     
     
    6,725
     
    Disposals
     
     
    (67,326)
     
     
    (56,147)
     
     
    (26,991)
     
     
    (6,539)
     
     
    (23)
     
     
    (2,727)
     
     
    (159,753)
     
    Foreign currency translation
     
     
    (136,501)
     
     
    (49,800)
     
     
    (13,302)
     
     
    (4,904)
     
     
    (7,850)
     
     
    (3,394)
     
     
    (215,751)
     
    Transfers (2)
     
     
    (840,511)
     
     
    2,000,003
     
     
    (976,771)
     
     
    347,024
     
     
    (62,720)
     
     
    (893,531)
     
     
    (426,506)
     
    Balance as of December 31, 2017
     
     
    42,561,894
     
     
    32,000,049
     
     
    3,866,318
     
     
    7,618,586
     
     
    3,839,355
     
     
    2,806,696
     
     
    92,692,898
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Accumulated depreciation and impairment losses
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of December 31, 2016
     
     
    (15,511,995)
     
     
    (9,965,554)
     
     
    (262,597)
     
     
    (2,088,478)
     
     
    (26,852)
     
     
    (674,902)
     
     
    (28,530,378)
     
    Depreciation expense
     
     
    (1,996,614)
     
     
    (1,479,792)
     
     
    -
     
     
    (416,698)
     
     
    -
     
     
    (106,878)
     
     
    (3,999,982)
     
    Recovery (losses) for impairment (Note 18)
     
     
    1,014,613
     
     
    316,360
     
     
    (372,804)
     
     
    11,538
     
     
    (7,794)
     
     
    16,006
     
     
    977,919
     
    Disposals
     
     
    54,244
     
     
    13,464
     
     
    -
     
     
    807
     
     
    -
     
     
    2,583
     
     
    71,098
     
    Foreign currency translation
     
     
    15,166
     
     
    32,729
     
     
    -
     
     
    3,929
     
     
    -
     
     
    3,802
     
     
    55,626
     
    Transfers (2)
     
     
    1,644,613
     
     
    (1,378,833)
     
     
    81,981
     
     
    (179,660)
     
     
    (4,876)
     
     
    (26,032)
     
     
    137,193
     
    Balance as of December 31, 2017
     
     
    (14,779,973)
     
     
    (12,461,626)
     
     
    (553,420)
     
     
    (2,668,562)
     
     
    (39,522)
     
     
    (785,421)
     
     
    (31,288,524)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Net balance as of December 31, 2016
     
     
    27,096,281
     
     
    19,122,228
     
     
    4,611,809
     
     
    4,823,279
     
     
    3,867,368
     
     
    2,807,537
     
     
    62,328,502
     
    Net balance as of December 31, 2017
     
     
    27,781,921
     
     
    19,538,423
     
     
    3,312,898
     
     
    4,950,024
     
     
    3,799,833
     
     
    2,021,275
     
     
    61,404,374
     
     
    (1)
    The balance of work in progress as of December 31, 2017, mainly includes investments in production at the Castilla field, the integral plan of electrical energy and secondary recovery of Yarigui and the modernization project of the Barrancabermeja refinery.
     
    (2)
    Transfers correspond mainly to transfers to: a) inventory of project materials for use in the operation for COP$ 250,239, b) classification of the intangible part of projects to natural resources for COP$ 7,222 and c) others for COP$ 31,852.
        
     
     
    Plant and
    equipment
     
    Pipelines,
    networks
    and lines
     
    Work in
    progress (1)
     
    Buildings
     
    Lands
     
    Other
     
    Total
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Cost
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of December 31, 2015
     
     
    37,360,222
     
     
    26,856,085
     
     
    11,015,010
     
     
    6,479,356
     
     
    4,068,951
     
     
    3,653,798
     
     
    89,433,422
     
    Additions/capitalizations
     
     
    1,457,547
     
     
    1,383,352
     
     
    (107,181)
     
     
    360,596
     
     
    41,202
     
     
    511,413
     
     
    3,646,929
     
    (Decrease) increase in abandonment costs
     
     
    (84,780)
     
     
    (78,712)
     
     
    -
     
     
    -
     
     
    -
     
     
    6,137
     
     
    (157,355)
     
    Capitalized interest
     
     
    -
     
     
    -
     
     
    205,662
     
     
    -
     
     
    -
     
     
    37,116
     
     
    242,778
     
    Exchange differences capitalized
     
     
    -
     
     
    -
     
     
    8,639
     
     
    -
     
     
    -
     
     
    -
     
     
    8,639
     
    Disposals
     
     
    (158,193)
     
     
    (21,814)
     
     
    (16,031)
     
     
    (12,540)
     
     
    713
     
     
    (15,455)
     
     
    (223,320)
     
    Foreign currency translation
     
     
    (42,870)
     
     
    (298,750)
     
     
    (1,629,613)
     
     
    (9,832)
     
     
    (69,878)
     
     
    12,416
     
     
    (2,038,527)
     
    Other (reclassifications) (2)
     
     
    4,076,350
     
     
    1,247,621
     
     
    (4,602,080)
     
     
    94,177
     
     
    (146,768)
     
     
    (722,986)
     
     
    (53,686)
     
    Balance as of December 31, 2016
     
     
    42,608,276
     
     
    29,087,782
     
     
    4,874,406
     
     
    6,911,757
     
     
    3,894,220
     
     
    3,482,439
     
     
    90,858,880
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Accumulated depreciation and impairment
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of December 31, 2015
     
     
    (13,469,749)
     
     
    (8,572,373)
     
     
    (19,566)
     
     
    (1,698,791)
     
     
    (13,689)
     
     
    (554,181)
     
     
    (24,328,349)
     
    Depreciation expense
     
     
    (1,869,604)
     
     
    (1,426,659)
     
     
    -
     
     
    (392,294)
     
     
    -
     
     
    (102,621)
     
     
    (3,791,178)
     
    Impairment (Note 17)
     
     
    (659,223)
     
     
    33,048
     
     
    (3,270)
     
     
    57,157
     
     
    24,067
     
     
    (13,517)
     
     
    (561,738)
     
    Disposals
     
     
    121,382
     
     
    14,022
     
     
    -
     
     
    7,021
     
     
    15
     
     
    11,524
     
     
    153,964
     
    Foreign currency translation
     
     
    272,582
     
     
    138,611
     
     
    38,904
     
     
    12,658
     
     
    -
     
     
    8,007
     
     
    470,762
     
    Other (reclassifications) (2)
     
     
    92,617
     
     
    (152,203)
     
     
    (278,665)
     
     
    (74,229)
     
     
    (37,245)
     
     
    (24,114)
     
     
    (473,839)
     
    Balance as of December 31, 2016
     
     
    (15,511,995)
     
     
    (9,965,554)
     
     
    (262,597)
     
     
    (2,088,478)
     
     
    (26,852)
     
     
    (674,902)
     
     
    (28,530,378)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Net balance as of December 31, 2016
     
     
    27,096,281
     
     
    19,122,228
     
     
    4,611,809
     
     
    4,823,279
     
     
    3,867,368
     
     
    2,807,537
     
     
    62,328,502
     
     
    (1)
    The balance of work in progress as of December 31, 2016, mainly includes investments made in the development projects of the Castilla y Chichimene fields, integral energy plan (PIEEL for its acronym in Spanish), primary and secondary development of the Tibú-Socuabo project and modernization of the Refinería de Barrancabermeja.
     
    (2)
    Corresponds mainly to transfers to: a) inventory of project materials for use in the operation for COP$(712,967) mainly Ecopetrol and Reficar, b) opening of the intangible part of projects to natural resources for COP$68,750 and c) other COP$116,692.