Ecuador signed the tender for the operation of three oil blocks in the province of Sucumbíos, belonging to the Intracampos II Round, blocks 93, 96 and 97, where private investment of approximately $333 million will be made possible for the exploration and exploitation of hydrocarbons, as well as the potential increase in national crude oil production.
Ecuador could return to the “Oil Boom” thanks to new investments in crude oil exploitation
Posted On 20 May 2024
The three oil blocks will leave the State between 55% and 76% of income. The investment is 333 million dollars for the exploration and exploitation of blocks located in Sucumbíos, and potential increase in national crude oil production.
The documents were signed by the legal coordinator of this State portfolio, José de Oliveira, and the manager of the Argentine company PCR – Ecuador, Marcelo Aguirre. The company currently operates the Palanda, Pindo, Arazá Este and Sahino blocks, in the provinces of Orellana and Sucumbíos, El Universo reported.
The Ministry of Energy indicated that the development of the Saywa and VHR blocks will be carried out by PCR – Ecuador of Argentine origin. While the operation of the VHR – West field will fall to the Uruguayan company Petrobell SA
The blocks are located north of eastern Ecuador, in the province of Sucumbíos, and for the Ministry of Energy their operation will contribute to the development of the communities of influence by generating employment and attracting economic resources.
