Seven hydrocarbon projects seek to attract $ 19 billion in private investment, until 2025

Ecuador plans to raise $ 19,000 million until 2025, through the launch of seven projects included in the investment portfolio of the hydrocarbon sector, for public bidding. This was announced by the Minister of Energy and Non-Renewable Natural Resources, Juan Carlos Bermeo Calderón, during the presentation “The future of Ecuador in its hydrocarbon investments”, which was part of the Ecuador Open for Business. Precisely at that event, the Government opened a total investment portfolio of $ 30,833 million.

During the event, Minister Juan Carlos Bermeo explained that the presentation of projects in the field of hydrocarbons corresponds to compliance with the guidelines established in the Petroleum Policy, issued under Executive Decree No. 95.

The seven projects offered are:

1. XIII Ronda Intracampos II.- It will correspond to the tender for six blocks that are expected to attract an approximate investment of $ 731 million in Capex and $ 1,320 million in Opex. The start-up of this project will generate 1,500 direct and indirect jobs.

2. Esmeraldas State Refinery.- It will include a figure of exceptional delegation to private initiative. It is estimated that $ 2,700 million will be invested in the construction of a high-conversion train, which will generate 1,820 jobs.

3. XIV Ronda Intracampos III.- Its development foresees a private investment of $ 1,000 million for the start-up of six blocks that will generate 1,500 jobs.

4. XV Ronda Off Shore.- An investment of approximately $ 500 million is expected to promote the Amistad field. The tender for 3 blocks will generate 500 jobs, between direct and indirect.

5. XVI Round Block 60 Sacha.- An investment of $ 2,887 million is estimated to strengthen the operation of the Sacha block. The contractual modality of participation will be applied.

6. XVII Bidding Round.- Development of fields in the Ecuadorian Amazon to attract an approximate investment of $ 4.75 billion. The bidding process for five blocks will generate 3,000 jobs.

7. High Conversion Refinery.- This long-term project foresees the construction of a refining complex that will attract a private investment of approximately $ 4,500 million and the generation of 14,400 jobs for the execution and operation of the industrial plant.

In the presentation, Bermeo also referred to the free import of hydrocarbon derivatives and natural gas promoted by the national government, protected by the Executive Decree No. 1158. “At the beginning of 2022, we hope to have the favorable results of the free import of derivatives by private initiative, which will lead to the commercialization of quality fuels and the revitalization of the national market ”, added the authority. Just this morning the first Petroecuador signs with Corpetrolsa.

The Government enables actions aimed at attracting economic resources for the development and strengthening of the hydrocarbon value chain, with the aim of promoting social programs and works that benefit all sectors of the country. (I)