Page 14 - 2020 Sustainability Report - Gran Tierra Energy

Highlights
In 2020, GTE:
Generated nearly USD $300 million in economic value for Colombia and Ecuador
Created 3,697 job opportunities,
more than 92% of which were for local workers
38% of GTE’s direct employees are women
Invested USD $40 million
directly into local economies
“Over the past 14 years GTE has developed a high-quality and low-decline asset base that has tremendous growth potential and currently generates significant cash flow, employment, royalties, taxes and other advantages for Colombia. We maintain a long-term view of our commitments and are focused on our sustainable contributions to local communities that will continue to flow from our operations for decades to come.”
Ryan Ellson, Chief Financial Officer and Executive Vice President, Finance
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economic Development
The company’s swift and significant health, safety and organizational response to the dual economic and public health challenges during the first quarter of
2020 played a major role in generating nearly USD $300 million for Colombia and Ecuador through royalties, taxes, salaries, goods and services purchased from contractors and local vendors in Putumayo and the Middle Magdalena Valley.
The resilience of GTE’s business was essential during this critical time when so much of the Colombian and global economy was shutting down due to the COVID-19 pandemic. The national government deemed the oil and gas industry to be
a “strategic sector” and worked with
the company to ensure operational continuity so the industry could contribute economically throughout the ongoing crisis.
This continuity was also made possible by the company’s ongoing productive relationships with communities
near its Colombian operations.