How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience? 

At SierraCol, we start each year with a thorough scorecard exercise to set clear objectives. These goals are communicated to the entire organisation in the first quarter, allowing all teams, including Legal, to align their tasks accordingly. This alignment ensures our legal actions directly support the company’s overall success, especially during periods of instability or crisis. 

In challenging times, being proactive and adaptable is crucial. I ensure the Legal Team is strategically organised so that routine tasks are managed efficiently, freeing senior team members to focus on critical issues. Our approach is collaborative and results-oriented, addressing matters that require extra attention with a focus on effective problem-solving. 

It’s vital for the team to understand the broader context of any situation to create tailored legal solutions that meet the company’s needs in a practical and sustainable manner. Open communication with internal teams, external partners, and regulators is key to providing the right legal advice. This approach ensures that legal considerations are fully integrated into decision-making processes, supporting the company’s goals while maintaining full compliance with laws, regulations, and ABC policies. 

What are the main cases or transactions you have been involved in recently? 

In December 2020, we managed the carve-out from Occidental Petroleum Corporation, transitioning into an independent oil and gas company under Carlyle’s portfolio. By June 2021, we issued US$600 million in SierraCol Notes and secured a revolving credit facility (RCF) of US$80 million, which was increased to US$120 million by April 2023. We extended the Rondon association contract with Ecopetrol in September 2023, and by February 2024, we executed an asset purchase agreement with CEPSA to acquire oil and gas contracts in Colombia, with the closing process currently underway. Additionally, in March 2024, we finalised a US$74 million loan agreement with Bancolombia to finance this acquisition. 

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the General Counsel contribute to driving and ensuring sustainable practices within the company? 

SierraCol Energy is committed to upholding the highest standards of ethics, transparency, and governance as an independent oil and gas operator in Colombia. Our approach to sustainability balances economic growth with corporate social responsibility, operational excellence, environmental protection, and positive community contributions. 

Legal and compliance functions are central to our ESG strategy. We ensure full regulatory and legal compliance, administer the Anti-Bribery and Corruption (ABC) programme, and mitigate related risks. The Legal Team provides strategic advice that is crucial for environmental compliance, regulatory reporting, and implementing carbon reduction initiatives, which not only reduce our environmental impact but also add value to the company. 

Through this integrated approach, SierraCol has achieved a 47% reduction in CO2e emissions from our 2020 baseline and is on track to reach a 60% reduction by the end of 2024. Legal played a key role in this achievement by supporting the analysis of public policies promoting emissions reductions and negotiating contracts that make these initiatives feasible. Additionally, promoting sustainability involves regular training on our compliance programme and advising the supply chain on incorporating sustainability criteria, such as green contracting. Transparent reporting is also essential, and the Legal Team ensures that disclosures to stakeholders and rating agencies, such as Sustainalytics, accurately reflect our sustainability efforts, which have earned us the top rating among oil and gas operators.