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Petróleo en Latinoamerica -
Ecuador
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Viernes, 08 de Agosto de 2008 03:46 |
Ecuador Petroamazonas Signs
Contract on
Block 15 Latin America News Digest
August 6,
2008 Wednesday 5:29 PM EEST
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Latin America News Digest
August
6, 2008 Wednesday 5:29
PM EEST
LENGTH:
225 words
HEADLINE: Ecuador
Petroamazonas Signs
Contract on Block 15
BYLINE: El Comercio - Ecuador
BODY:
Ecuadorian state-owned company Petroamazonas signed an oil services
contract
with the state oil firm Petroecuador on August 5, 2008 on the
administration
and operation of block 15 in Ecuador's
Amazon region.
Petroamazonas will operate the block for five years, replacing the
provisional
administration which was put in charge of the block after the
termination of
the contract with U.S.
Occidental
Petroleum (Oxy ;
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</script>) ) in 2006.
The contract consolidates an oil services company of the state, rather
than a
new oil firm in addition to Petroecuador, according to Petroamazonas
president,
Wilson Pastor. The company will provide services to Petroecuador
consisting
basically in crude oil extraction, he said.
Block 15 produces 95,000 barrels per day (bpd) of crude oil and is
targeted to
reach an output of between 97,000 bpd and 101,000 bpd at the end of
2008.
Petroamazonas will also produce oil in the field Panacocha which has
reserves
of 140 million barrels.
In addition, Petroecuador studies a possibility to give Petroamazonas
the
Ishpingo Tambococha Tiputini (ITT) oil field in the Yasuni reserve, in
which the
Government may start production unless it receives a demanded sum as a
compensation for keeping the oil reserves undeveloped.
Petroamazonas is currently preparing an offer for the development of
ITT.
(One barrel = 159 litres)
http://www.elcomercio.com/
LOAD-DATE: August 6,
2008
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