ECOPETROL S.A. informs about the decision adopted by the Court of the Netherlands in relation to the Cartagena Refinery and the financial restructuring process of CB&I N.V., a subsidiary of McDermott International Ltd

Ecopetrol informs that, in response to the restructuring process initiated on September 8, 2023 by McDermott International Ltd. (McDermott), for its subsidiary Chicago Bridge & Iron Company N.V. (CB&I N.V.) in the Netherlands, Refineria de Cartagena S.A.S. (Reficar) was notified of the decision of the Court of the Netherlands on March 21, 2024, in response to the approval of the alternative financial restructuring plan of CB&I N.V.

Through this plan, Reficar, among other aspects, will receive convertible preferred shares in 19.9% of the common capital of McDermott International Ltd., (parent company of CB&I N.V.), a business group with a presence in more than 54 countries, specialized in engineering for the energy industry, as well as in low-carbon solutions.

A judge of the District Court of Amsterdam in the Netherlands was tasked with sanctioning the alternative restructuring plan for CB&I N.V., presented by an independent expert appointed by the Court.

With this court decision, Reficar manages to consolidate the defense of its interests and those of the Nation.

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