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Ecuador signs oil field contracts for the Oil & Gas 2018 round
Posted On 05 Oct 2018
Ecuadornews:
The President of the Republic Lenin Moreno will be this Friday in Guayaquil for the signing of two types of oil contracts. The bidding for four oil fields that are part of the Oil & Gas process (Cuyabeno, Oso, Yuralpa and Blanca-Vinita). And the modifying contracts with the Shushufindi and Pardaliservices consortium.
For the specific service contracts of the Oil & Gas round, a private investment of $ 727 million is expected over the next three years. The Secretariat of Communication informed that the negotiation process was fulfilled with eight technical-economic proposals. That round included, in addition to the four oil fields, the Amistad gas field, operated by the public company Petroamazonas.
The contractual modification for the Shushufindi Aguarico and Libertador fields will increase investment in the sector by $ 895 million, according to the Government. The final agreements with the companies of that consortium were achieved last month.
The signing of contracts is scheduled for 11:00 this Friday, October 5 at the Prosperina campus of the Polytechnic School of the Litoral. (I)
