The front of strategic sectors studies new models for awarding hydrocarbon fields that fit market prices and attract private investors.
According to Hydrocarbons Minister Carlos Pareja Yannuzzelli, the result of the study will be evident between July and August this year. By that time it is expected to launch the XII Ronda Petrolera in fields ofsoutheastern Ecuador. Initially, the event was scheduled for the first quarter.
Although he gave no further details, the official clarified that the government seeks to maintain -and even increase- oil production despite low prices. The idea, he explained, is that oil production grows when prices rise.
His hope is that in the second half of this year prices increase. Pareja Yanuzzelli clearly emphasized that “extraordinary” values of $ 100 will not be reached.