Mexico



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

CERAWeek: Chile's Geopark, Rusia's Rosneft, Chinese CCDC and Hilong group interested in Ecuador's oil auction

Reuters/Daniel Tapia

The Andean country is in a race with Latin American neighbors Argentina, Mexico, Brazil and Uruguay to attract foreign capital to their energy sectors, but the scale of Ecuador's projects is smaller.

By Marianna Parraga

HOUSTON
Petroleumworld 03 07 2018

Chilean, Russian and Chinese energy companies are among the firms interested in participating in Ecuador's upcoming bidding rounds for onshore and offshore blocks, the country's oil minister said on Tuesday.

Ecuador plans to launch two auctions in March, the Intracampos round which includes eight onshore blocks and the mature field round, which includes four onshore areas - Cuyabeno, Oso, Vinita and Blanca - and the Amistad offshore gas field.

Chile's GeoPark, a unit of Russia's Rosneft, and China's CCDC Petroleum and Hilong Group are among those expressing interest, said oil minister Carlos Perez.

The Andean country is in a race with Latin American neighbors Argentina, Mexico, Brazil and Uruguay to attract foreign capital to their energy sectors, but the scale of Ecuador's projects is smaller.

“We expect to award all the blocks,” said Perez on the sidelines of the CERAWeek energy conference in Houston.

Forty companies have so far registered to bid for blocks that would be assigned to winners two months later under shared profit agreements and service contracts with Ecuador's state-run oil company Petroamazonas.

The country plans to announce later this year terms of another bidding round including areas in Ecuador's Southeastern region.

A group of small fields originally intended to be included in the March auctions were discarded due to a lack of interest from potential investors, Perez added.

Foreign investment is needed in Ecuador to reverse a production decline that knocked its crude output this year to 515,000 barrels per day (bpd) from 548,000 bpd in 2016.

 


Story by Marianna Parraga from Reuters.

reuters.com /
03 06 2018

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

 

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.