Echo Energy plc is a mid-cap upstream oil and gas company with its asset base in Latin America. It is striving for an onshore high-value piped strategy in proven basins of central and South America, to create a strong portfolio of assets having Multi Tcf exploration potential. The portfolio consists of operations in Bolivia, Argentina, as Santa Cruz Sur. It was founded in the year 2005, and its headquarters are situated in London. It was incorporated in England & Wales, but it operates mainly in Argentina. The company is listed and traded on the Alternative Investment Market (AIM) of the London Stock Exchange and complies with the UK’s City Code on Takeovers and Mergers. The subsidiaries of the company include Independent Gas Management srl, Independent Resources (Ksar Hadada) Ltd, Echo Energy Bolivia (Op Co 1) Limited, and Independent Energy Solutions Srl etc.
The assets of the company are based in Latin America as Echo recognised the opportunities and resources presented by the emerging Latin American market. Over the past decade, it has seen swift economic growth, and over the past 40 years, there has a threefold increase in the primary energy consumption in Latin America, as per the BP Statistical Review of World Energy (2017). According to the same review, 22% of the total energy mix in Latin America is taken up by gas, and this percentage will continue to grow as clean energy and natural gas are the future. As per the BP Statistical Review 2018, Latin America consists of 20% of the world reserves of oil and gas, with proven gas reserves of 290 Tcf and oil reserves of 330 billion barrels. The average unproven gas resources are 678.5 Tcf and unproven oil reserves are 125.9 Gbbl. Latin America offers unexplored onshore potential at low cost, consumption versus production balance, a proven hydrocarbon resource base, and underutilised infrastructure that can be used to meet the increasing demand of natural gas. The company operates 10,204 km of cross-border pipelines and 7 LNG import terminals.
The austral basin in Argentina is an important asset in the portfolio of the company, with around 34% of Argentinian Gas Reserves (Source: IAPG 2015). The Tarija Basin in Bolivia is also a very productive gas producing asset for the company. Apart from these, the portfolio also consists of Santa Cruz Sur, which is an agglomerate of five production concessions that are situated in the Onshore Austral Basin in Southern Argentina.
Echo Energy plc follows a well-defined framework of corporate governance and aligns itself with the Quoted Companies Alliance (QCA) Corporate Governance Code. The board of the company has set up separate committees for audit, remuneration, and nomination. It has an ethical code of conduct for running its business operations and promotes a culture of trust, transparency, and accountability. Apart from fulfilling all its corporate responsibilities, the company also fulfils its environmental and social responsibilities. It has a comprehensive Corporate Social Responsibility (CSR) framework in place and complies with international best practices and guidelines to create a sustainable business. It aims to minimise the impact of its business activities on the environment and create long-term value for the business as well as the wider community. It gives high priority to ensure that its exploration and production activities are carried out in a safe and environmental-friendly manner.
Echo Energy PLC 85 Great Portland Street, First Floor LONDON W1W 7LT United Kingdom
+44 207 190 9930