After 3 years, Ecuador sells the first 30,000 barrels of crude from the Intercampo Round contracts

After three years, Ecuador made the first sale of crude from the contracts of the Ronda Intracampos, which were signed in May 2019. Its about consortium between Frontera Energy and GeoPark, who marketed 30,000 barrels of oil produced in the parakeet blocklocated in the province of Sucumbíos.

This was reported by the same consortium this Friday through a statement, in which it was recalled that, in the first quarter of this year, Frontera Energy announced the discovery of hydrocarbons in the Perico block, of which Frontera is the operator and has 50% stake, while the other 50% belongs to GeoPark.

After two years and eight months, the first production of the Intracampos round arrives from Frontera Energy

“Thanks to the permanent support of the Government and the communities in the area of ​​influence, we managed to obtain our first barrels in Ecuador. Today we can say with satisfaction that the sale of this crude contributes to the growth of the sector and our company, as well as the generation of important resources for the country,” he said. Orlando Cabrales Segovia, president of Frontera Energy.

Last January, after almost three years of signing the contracts, Frontera announced that the Jandaya-1 well, the first operated by the firm in Ecuador, was drilled on December 7, 2021 and reached a total depth of 3,345 meters.

The initial 24-hour test resulted in 925 barrels of oil equivalent per day. In the near term, Frontera expected to drill the Tui-1 exploration well on the southern part of the Perico block in February 2022, approximately 6 kilometers from Jandaya-1, and was evaluating additional prospects on the block for future drilling.

The Frontera-GeoPark consortium also holds the tender, under the participation modality, for the Espejo block (Round Intracampos I), in which processes related to the exploration and exploitation of crude oil are also carried out. These activities are part of the 2022 capital expenditure program of private oil companies, projecting up to $180 million in resources.

Meanwhile, regarding this first export of 30,000 barrels, the Minister of Energy and Mines, Xavier Vera, described this process as an important hydrocarbon milestone within the planning established by the national government to capture additional income for the fiscal box, as well as the contribution to the sustainable increase in daily oil production in the country.

“This first shipment of 30,000 barrels of crude with density corresponding to 24 degrees API belongs to the Intracampos Round I. The commercial transaction is the result of hard work carried out by the Frontera and GeoPark consortium. It should be noted that this commercialization directly benefits the Ecuadorian State, since important economic resources will be captured to finance social programs and promote the development of the communities of direct influence”, said Vera.