Ecuador modeling Suroriente acreage plan

Work is underway to prepare a modeling plan for Ecuador’s Suroriente upstream acreage in the Amazon, according to hydrocarbons undersecretary María Elisa Soledispa.

Initial studies are targeting blocks 80, 81, 82, 84, 85, 86 and 87 ahead of future rounds, the official said during a webinar organized by Latin American and Caribbean oil, gas and biofuels association Arpel.

Soledispa highlighted that Suroriente is part of a long-term hydrocarbons reserves recovery roadmap which includes the Progreso basin and offshore areas.

The undersecretary also pointed to near and medium-term projects to be carried out with the private sector, led by the Esmeraldas refinery with planned investment of US$2.4bn.

Another initiative due to be offered in the short term will entail helping state upstream hydrocarbons operator Petroamazonas reopen closed wells. Estimated investment reaches US$30mn.

In the medium term, opportunities include the Intracampos II round (US$840mn), the overhaul of state oil company Petroecuador’s Monteverde terminal (US$220mn) and the Sacha field at block 60 (US$1bn).

Source: Energy and non-renewable natural resources ministry (PAM = Petroamazonas)