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Amistad Field: Petroecuador will invest USD 100 million at its own risk in four wells

Posted On 27 Feb 2024

In the end, it will be the state-owned Petroecuador that will invest in the Amistad Field, after the failed tender that was canceled in December 2023. Four wells are planned to be drilled.

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Amistad Field Platform, January 6, 2021.

The state oil company Petroecuador will invest, at its own risk, some USD 100 million in three or four exploratory wells in the Amistad Field between 2024 and 2025.

Located in the Gulf of Guayaquil, the Amistad Field currently produces about 21 million cubic feet of natural gas per day.

“For now we are visualizing that Petroecuador is going to do that project,” said Salguero.

Drilling of the first well is scheduled to begin at the end of 2024 and the other two or three in 2025, announced Bruno Salguero, Exploration and Production manager of Petroecuador.

With this, the plan, according to Salguero, is to increase production to between 50 million cubic feet of natural gas per day and 60 million cubic feet of natural gas per day.

Failure in competition

This after the state oil company itself declared void the international tender for Campo Amistad, in December 2023, which sought to award the project to a private company.

Although 11 companies showed interest in the tender, only the Green Dynamics Consortium, composed of the Ecuadorian company Green Power and the Mexican Repstim, presented a technical offer, which was disqualified.

The consortium said, at that time, Petroecuador changed the bidding rules for the Amistad Field midway and did not communicate it clearly and specifically.

https://www.primicias.ec/noticias/economia/campo-amistad-petroecuador-pozos-gas-natural/

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