Ecuador Calls Ninth International Bidding Round
|Thursday, January 10, 2002
Ecuador is making preparations for its ninth international oil and gas exploration bidding round. Petroecuador has identified eight blocks to be included in this round. There will be four offshore blocks 4, 5, 39, and 40 and there will be four blocks available in the Amazon Basin, 20, 32, 33, and 35. There is a possibility that three more Amazon blocks will be added to the sale. Petroecuador has identified 13 structures on the blocks with possible reserves of 350 million barrels of heavy crude. Technical documents are being prepared for the bidding, including geological maps, socioeconomic studies, and legal work.