BOGOTA, May 9 /PRNewswire-FirstCall/ -- On May 7 and 8, Ecopetrol's S.A. (BVC: ECOPETROL, NYSE: EC) coexisting unions, Adeco, Sindispetrol and Union Sindical Obrera (USO) filed their respective claims relative to the 2006 - 2009 Collective Bargaining Agreement and its attachments before the Cundinamarca Territorial Directorate of the Social Protection Ministry. The company also submitted a partial claim.
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These steps initiate the negotiation process that will set the new terms and conditions to govern the next Collective Bargaining Agreement.
This negotiation process is of the utmost importance to Ecopetrol as the agreements reached will contribute to build trust with unions and achieve the working environment that Ecopetrol needs to develop its corporate strategy.
The next step in this process is the execution of the respective guarantee documents with each union organization.
The items submitted in Ecopetrol's partial claim refer to the following aspects:
Chapter I - Objectives, Application and Scope Article 3 Paragraph 2; Articles 4 and 6
Adapt the text of existing legal provisions on apprenticeship contracts and amend paragraph 2 of article 3 with the consequences of deleting this article, as it concerns temporary workers of Ecopetrol and of contractors of oil industry core jobs.
Change the terms for submission requirements to obtain collective bargain benefits (Art. 6 degrees).
Chapter II - Union rights Articles 10, 11 and 21
Monetize union benefits and amend collective bargaining agreement sections to comply with legal provisions.
Chapter IV - Education Benefits Article 37
Amend collective bargaining agreement to comply with provisions set forth by the Constitutional Court in ruling C-560 of 1997, regarding the prohibition of admission fees demanded by educational institutions.
Chapter V - Definition of Family Article 39 Paragraph 3
Establish a mechanism that enables reasonable cost recovery for expenses incurred by employees on account of health care for siblings under 18 years of age.
Chapter VI - Health care Services Article 40 Paragraph 5 items a) and b) and Provisional Paragraph
Update the patient co-pay amount established in the collective bargaining agreement and establish a mechanism for annual adjustment thereof. Delete the Provisional Paragraph, as the term established therein has expired.
Chapter VII - Commissariats and Casinos Article 59 GCB Item a); Article 59 ELC Item g); Article 59 Paragraph 2
Amend Article 59 item a) regarding the "Industrial Complex," so that in the future such benefit are received by workers only in cash, with no effect on salary, and delete all other clauses contained herein, as they are inapplicable at present.
Chapter VIII - Transport Article 70
Replace the "sale" of bicycles by the Company for a "loan" to workers who prove ability to pay.
Chapter X - Occupational Health Articles 83, 84 and 85
Adapt Ecopetrol's commitments to current situation in accordance with worker's actual requirements. Adapt the make-up and distribution of the Occupational Health Paritarian Committees to the Company's organizational structure and to existing legal provisions.
Chapter XI - Sanctioning Procedure Articles 86 and 87
Amend collective bargaining agreements to comply with the provisions and objectives of the Disciplinary and Labor Statute.
Chapter XII - Claims Committee Articles 88, 89, 90, 91, 92, 93, 94 and 95
Terminate such committees in the future, so that worker claims may be settled in an expedited and timely fashion by Regular Labor Courts.
Chapter XIII - Bonuses and fringe benefits Article 118
Delete the term "union per diem," to adapt the provisions of this article to applicable labor laws.
Chapter XV - Ranking and Salaries Article 127
Establish differences in per diems and set an amount for one day assignments without overnight stay and with return to the place of work.
Chapter XVI - Miscellaneous Articles 137 y 142
Adapt item b) of the collective bargaining agreement to current legislation that provides for "Bereavement leave" and delete Article 142, as it is no longer applicable.
Chapter XVII - Human Rights and Peace Article 167 Define and clarify their true meaning and application. Chapter XVIII - Regulatory Matters Article 173 degrees
Set the term for the Collective Bargaining Agreement at five (5) years, to foster harmonious and calm labor relations as its main purpose.
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Ecopetrol is Colombia's largest company and it is integrated in the petroleum chain, positioned among the top 40 oil companies in the world and the four major oil companies in Latin America. Besides Colombia, where over 60% of domestic production is concentrated, it is involved in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol owns the main refinery in Colombia, most of the network of oil and multiple purpose pipelines in the country, and it is considerably increasing its share in biofuels.
This notice contains statements regarding perspectives of the business, operations and financial results estimates, and information concerning the growth perspectives of Ecopetrol. All of the foregoing are projections and, as such, exclusively based on the expectations of management as to the future of the company and its continuous access to capital for financing its commercial plan. The materialization of said estimates in the future will depend on market conditions, regulations, competition, performance of the Colombian economy and industry, among other factors; therefore, they are subject to change without prior notice.
Ecopetrol S.A.
CONTACT: Investors Relations, Alejandro Giraldo, + 571-234-5190,
investors@ecopetrol.com.co; or Media (Colombia), Mauricio Tellez, +
571-234-5377, or Fax: +571-2344480, mtellez@ecopetrol.com.co
Web Site: http://www.ecopetrol.com.co/
