GeoPark Publishes Its 2023 SPEED/Sustainability Report

GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator, today announced the publication of its 2023 SPEED/Sustainability Report.

The SPEED/Sustainability Report outlines the Company’s advancements in environmental, social and governance areas, highlighting the significant reduction in 2023 of the Company’s Greenhouse Gas (GHG) emissions intensity. Two years after announcing its GHG emissions reduction strategy with ambitious short, medium, and long-term targets, GeoPark continues to make steady progress toward its 2050 net zero goal.

In the CEO letter presenting the Report, Andrés Ocampo, Chief Executive Officer of GeoPark, said: “GeoPark was built to be at the forefront of independent exploration and production companies in the region, with a focus on creating value and positively impacting all stakeholders. At the heart of our Company and our approach to sustainability lies our home-grown SPEED Value System, which has consistently guided our decisions and actions across five interlinked areas — Safety, Prosperity, Employees, Environment and Community Development. Deeply ingrained in our corporate culture, SPEED led us to further sustainability achievements in 2023.”

KEY SUSTAINABILITY HIGHLIGHTS

Strong Results in Emissions Reduction Plan

• Through GeoPark efforts, emissions intensity fell to 10.6 kg CO2e/boe in 2023, 18% lower than 2022 and 26% less than the baseline set in the GHG emissions reduction plan announced in November 2021¹
• Carbon intensity on the core Llanos 34 Block (GeoPark operated, 45% WI) fell 28% to 7 kg CO2e/boe in 2023, a 42% reduction from the already low baseline of 12.1 kg CO2e/boe
• The improvement in the Llanos 34 Block, which supplies close to 7% of Colombia’s total oil production, reflected the first full year of interconnection to the national grid and resulted in an annual CO2e reduction of 100,000 metric tons
• Facilities mitigating methane emissions led to an additional 20,000 metric tons of CO2e reduction and a 9.9 MWp photovoltaic solar plant further decreased emissions by 5,000 metric tons of CO2e

Top Accomplishments in Sustainability