Note 21 Subsidiary undertakings
The following chart illustrates main companies of the Group structure as of 31 December 2017 (a):
(a) LGI is not a subsidiary, it is Non-controlling interest.
Non controlling interest held by LGI:
| · | Consolidated Statement of Comprehensive Income: Total comprehensive income for the year 2017 include a profit of US$ 13,536,000 (profit of US$ 2,791,000 in 2016 and loss of US$ 7,085,000 in 2015), a loss of US$ 6,200,000 (US$ 10,379,000 in 2016 and US$ 33,260,000 in 2015) and a loss of US$ 945,000 (US$ 3,966,000 in 2016 and US$ 10,190,000 in 2015) corresponding to non-controlling interest held by LGI in GeoPark Colombia Coöperatie U.A., GeoPark Chile S.A. and GeoPark TdF S.A., respectively. |
| · | Consolidated Statement of Financial Position: Total Equity as of 31 December 2017 includes US$ 29,330,000 (US$ 16,168,000 in 2016), US$ 15,953,000 (US$ 22,082,000 in 2016) and a negative amount of US$ 3,368,000 (US$ 2,422,000 in 2016) corresponding to non-controlling interest held by LGI in GeoPark Colombia Coöperatie U.A., GeoPark Chile S.A. and GeoPark TdF S.A., respectively. |
| · | Consolidated Statement of Changes in Equity: Dividends distributed to non-controlling interest of US$ 479,000 in 2017 (US$ 6,406,000 in 2016) correspond to non-controlling interest held by LGI in GeoPark Colombia Coöperatie U.A. |
Details of the subsidiaries and joint operations of the Group are set out below:
| | | Name and registered office | | Ownership interest |
| Subsidiaries | | GeoPark Argentina Limited (Bermuda) | | 100% |
| | | GeoPark Argentina Limited – Argentinean Branch | | 100% (a) |
| | | GeoPark Latin America Limited (Bermuda) | | 100% |
| | | GeoPark Latin America Limited – Agencia en Chile | | 100% (a) |
| | | GeoPark S.A. (Chile) | | 100% (a) (b) |
| | | GeoPark Brazil Exploração y Produção de Petróleo e Gás Ltda. (Brazil) | | 100% (a) |
| | | GeoPark Chile S.A. (Chile) | | 80% (a) (c) |
| | | GeoPark Fell S.p.A. (Chile) | | 80% (a) (c) |
| | | GeoPark Magallanes Limitada (Chile) | | 80% (a) (c) |
| | | GeoPark TdF S.A. (Chile) | | 68.8% (a) (d) |
| | | GeoPark Colombia S.A. (Chile) | | 100% (a) (b) |
| | | GeoPark Colombia SAS (Colombia) | | 80% (a) (c) |
| | | GeoPark Latin America S.L.U. (Spain) | | 100% (a) |
| | | GeoPark Colombia Coöperatie U.A. (The Netherlands) | | 80% (a) (c) |
| | | GeoPark S.A.C. (Peru) | | 100% (a) |
| | | GeoPark Perú S.A.C. (Peru) | | 100% (a) |
| | | GeoPark Operadora del Perú S.A.C. (Peru) | | 100% (a) |
| | | GeoPark Peru S.L.U. (Spain) | | 100% (a) |
| | | GeoPark Brazil S.L.U. (Spain) | | 100% (a) |
| | | GeoPark Colombia E&;P S.A.(Panama) | | 100% (a) (b) |
| | | GeoPark Colombia E&;P Sucursal Colombia (Colombia) | | 100% (a) (b) |
| | | GeoPark Mexico S.A.P.I. de C.V. (Mexico) | | 100% (b) |
| | | Ogarrio E&;P S.A.P.I. de C.V. (Mexico) | | 51% (a) (b) |
| | | GeoPark (UK) Limited (United Kingdom) | | 100% |
| Joint operations | | Tranquilo Block (Chile) | | 50% (e) |
| | | Flamenco Block (Chile) | | 50% (e) |
| | | Campanario Block (Chile) | | 50% (e) |
| | | Isla Norte Block (Chile) | | 60% (e) |
| | | Yamu/Carupana Block (Colombia) | | 89.5%/100% (e) |
| | | Llanos 34 Block (Colombia) | | 45% (e) |
| | | Llanos 32 Block (Colombia) | | 12.5% |
| | | CPO-4 Block (Colombia) | | 50% (e) |
| | | Puelen Block (Argentina) | | 18% |
| | | Sierra del Nevado Block (Argentina) | | 18% |
| | | CN-V Block (Argentina) | | 50% (e) |
| | | Manati Field (Brazil) | | 10% |
| (a) | Indirectly owned. |
| (b) | Dormant companies. |
| (c) | LG International has 20% interest. |
| (d) | LG International has 20% interest through GeoPark Chile S.A. and a 14% direct interest, totaling 31.2%. |
| (e) | GeoPark is the operator. |
Corporate structure reorganization
During 2017, the Company decided to incorporate a subsidiary in the United Kingdom to conduct the businesses in Latin America by adopting all the key resolutions and decisions necessary for such purpose. Also, a tax reform enacted in The Netherlands during September 2017 that would harm the Group´s cashflow, forced the Group to decide the re-domiciliation of its 100% owned Dutch subsidiaries to Spain.