Ecuador readying launch of upstream acreage round
Ecuador’s energy and mines ministry is finalizing documents to launch bidding for Amazon blocks 16 and 67, according to hydrocarbons deputy minister María Mogollón.
The participation contracts will be for 15 years, and estimated investment reaches US$300mn, the official said at a local energy event.
National oil company Petroecuador took over the areas in January 2023 that currently produce 10,400b/d. The goal is to increase output to 20,000b/d.
The ministry expects to award the acreage in May.
Regarding other blocks, Mogollón said that negotiations related to investment will close soon.
The talks are underway with Pacifpetrol for block 2 (Gustavo Galindo), with Enap for block 47 (PBHI), with Orion Energy for blocks 52 (Ocano Peña Blanca) and 54 (Eno Ron), and PCR for block 65 (Pindo).
Earlier this year, the ministry closed such deals for blocks 46 (MDC), 62 (Tarapoa) and 64 (Palanda Yuca Sur).
Source: Agencia de Regulación y Control Hidrocarburos
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