Posted On 17 Dec 2015
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 Schlumberger and Petroamazonas represents an investment of $ 4,900 million, according to Vice President Jorge Glas. Of that amount, he assured during the signing of the contract, $ 1,000 million will come in the next few days.
The Alliance represents a relief for the finances of the Petroamazonas State Company. Its total budget for 2016, according to the report submitted in the Assembly on November, adds 3.533 million dollars. Of that, 2,217 million will go to investment projects.
Seismic, drilling and even exploitation studies in the Yasuni National Park oil fields are part of the package of investments the Ecuadorian company wants to share. Its authorities do not rule out a partnership to extract oil from the ITT sector, in Yasuni.
According to Oswaldo Madrid, former manager of Petroamazonas, the public-private investment is positive, because the company assumes the risks and the State retains the ownership of the blocks. In the case of block 61 (Auca field), in the following nine years Schlumberger will assume the risk of $2,100 million to optimize the production. The goal is to increase the daily quota of extraction to 20,000 barrels.