Frontera Energy announced the discovery of oil and gas in Sucumbíos

“Today, the private company Frontera Energy announced the oil and gas discovery in the Perico block, in Sucumbíos”. With that message, on the night of Wednesday, January 19, President Guillermo Lasso announced the company’s finding.

Lasso recalled that more than six years ago there were no new discoveries hydrocarbon success stories in the country. “This is great news for all of Ecuador, a product of 100% private investment,” the president celebrated.

The president explained that at the national crude oil production will increase by 925 barrels per day, according to initial estimates.

“This is responsible investment, committed to local employment, the environment and the country,” Lasso stressed, mentioning that progress is being made towards the goal of doubling oil production.

Through a statement, Orlando Cabrales, CEO of Frontera Energy, announced the discovery in the first well operated by the Ecuador company:

“We are pleased announce a discovery in the Jandaya-1 exploration well. Jandaya-1 is the first well operated by Frontera in Ecuador and the first well drilled on the awarded surface during the 2019 Ecuador Intracampos Bidding Round. Thanks to the strong support of the Government of Ecuador and the communities near the well site, Jandaya-1 was drilled, completed and tested on time and to our expectations. We anticipate putting the well on long-term testing in February 2022, once permits are obtained. We are optimistic that the Jandaya-1 well represents the first of many near-field opportunities already identified in the Perico block.”

Ishpingo exploitation would start in May, according to Petroecuador manager

the canadian company drilled the Jandaya-1 well on December 7, 2021, to test an exploration prospect in the northeast part of the block. The well has a depth of 3,345 meters, where a potential reservoir of hydrocarbons. The initial 24-hour test resulted in 925 barrels of oil per day.

Now Frontera is preparing the permits required by the authorities to move forward with a long-term test of at least six months.

Likewise, it was stated that by February 2022 the firm expects to drill the Tui-1 exploration well, in the southern part of the Perico block.

Ítalo Cedeño, manager of Petroecuador, points to joint venture contracts and local gas production

Frontera Energy is a Canadian public company involved in the exploitation, development, production, transportation, storage and sale of oil and natural gas in South America. According to information on its website, the firm has a diversified portfolio of assets with stakes in 34 exploration and production blocks In colombia, Ecuador and Guyana, and port and pipeline facilities in Colombia.

In Ecuador it has approximately 16,700 net acres in the Perico and Espejo exploration blocks, located in Sucumbios. (I)