Ecuador plans third 'intra-field' oil round

Ecuador plans to launch the Intracampos III oil round no later than next year as part of an effort double production by 2025 to 1Mb/d.

The announcement was made to reporters by energy minister Juan Carlos Bermeo, although he did not give details of how many fields the round would include.

Bermeo said the fields will be awarded under the participation contract model, in which operators receive part of the crude produced.

“We’re working on the round. Hopefully this year or at the latest in the first half of next we can launch it,” said the official.

The fields are small oil areas located between large fields that have seen the country’s highest production levels.

Canadian company Frontera Energy recently announced that it discovered oil and gas in the Perico block, in the Amazonian province of Sucumbíos.

The block was included in the Intracampos I round and was awarded in 2019.

During the ENAEP 2022 Energy and Oil convention, hydrocarbons undersecretary María Cristina Cadena announced that the government would tender Intracampos II, the Amistad gas field and the Sacha oilfield this year.

Ecuador currently produces 495,000b/d of crude and expects to reach 583,000b/d by the end of the year.