Sipetrol buys bidding rules for Culebra-Yulebra
Bnamericas Published: Tuesday, December 09, 2003
The international subsidiary of Chile's state oil company Enap, Sipetrol, has bought bid rules from Ecuador's state oil company Petroecuador for the Culebra-Yulebra block, Petroecuador said in a statement. Sipetrol is the fourth company to buy bid rules for one or more of the four blocks on offer. Culebra-Yulebra has estimated reserves of 145.7 million barrels. The Ecuadorian subsidiary of UK oil company Perenco recently bought bid rules for the Auca and Culebra-Yulebra fields. The other two fields are Shushufindi and Lago Agrio. Argentine oil company Tecpetrol has bought rules for Culebra-Yulebra, while Spain's Repsol YPF has bought rules for all four fields on offer. Ecuador's energy ministry expects to receive bids in January.
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