The Schlumberger firm will invest $ 4,900 million in an oil field

Through partnerships to cope with the economic crisis, the private sector becomes an attractive and strategic partner in specific sectors.   In the hydrocarbons sector, for example, the signing of the contract for “specific services with funding for block 61” between...

Petroamazonas highlights increase in its production

Petroamazonas EP said this Thursday in a statement the increase of 10.5% of its production in 2014, that reached a daily average of 361,072 barrels of oil compared to 326,596 barrels in 2013. The result is due to an enhanced training of the technical staff of the company, said...

Yasunidos ask Petroamazonas to testify in the Assembly

On November 18th, the Yasunidos group submitted a report with observations on oil exploration of the blocks 41 and 31, within the Yasuni National Park. At a press conference, members of the group requested that the Commission on Biodiversity of the Assembly, which is responsible...

Correa: Total petroleum income for the state budget is 18.57%

President Correa said that the gross income from petroleum uses amounts to 16,960 million, however only 18.57% of total oil income comes to General Budget. According to the president, 34% of income is consumed in the production process itself intended for oil product imports and...

Ecuador plans to increase oil reserves with foreign investment

Ecuador will increase its oil reserves at 170 million barrels, as a result of 2,120 million dollars investments signed yesterday between Petroamazonas and foreign companies. These investments will go to seventeen fields, whose production was in decline phase and is expected to be...

Petroamazonas will incorporate more than 20 million barrels of oil

Ramiro Cazar, Manager of External Relations of Petroamazonas, announced that the oil company will incorporate about 20 million oil barrels more this year. Cazar said these new reserves are primarily related to the Armadillo field. The official also added that Petroamazonas...

Petroamazonas terminates oil contract with Ivanhoe

The contract of Specific Services of the Canadian oil company Ivanhoe for exploration and exploitation of Pungarayacu field will be terminated in Ecuador after more than five years of work in block 20. The announcement was made by Petroamazonas Manager, Oswaldo Madrid, in an...

Preliminary work to exploit the Tiputini will begin the coming days

Petroamazonas plans to start the coming days pre-exploitation works at Ishpingo Tambococha and Tiputini (ITT) after having achieved three months ago the environmental license for the development of the oil area. The construction works of Port Miranda include the building of a...