The Ministry of Energy and Mining has announced that it will soon announce a tender for blocks 16 and 67, which will be temporarily managed by EP Petroecuador from January 1, 2023.
According to the ministry, what is The objective of this tender is for the winning company to make investments to increase the production of the blocks operated by the private initiative (Repsol, New Stratus-Petrolia) by December 31, 2022; and that they were returned to the state due to the expiration of the contractual period.
In the press release, the Ministry pointed out that this area is very promising, with investments and high technology, incremental production is expected at the expense and risk of the contractor. The block once produced 15,000 barrels per day, and is currently at around 10,000 barrels.
The decline in production at the hands of the state-owned oil company was caused, among other problems, by strikes and attacks carried out by indigenous communities in the area who demanded a range of assistance such as bonuses and IESS membership.
According to an official statement, the national government through the Ministry of Energy and Mining promotes investments in the hydrocarbon sector for the benefit of all Ecuadorians.
Source: Eluniverso
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