Petroecuador Delays Tender for 8 Marginal Blocks

The tender committee of Ecuador's state oil company Petroecuador has pushed back the deadline to submit bids for eight marginal blocks in the Amazon region to November 1 from October 10, Ecaudor's government said in a statement.

To date, 19 companies have purchased bidding rules for the E&P of the marginal blocks, the statement said.

The tenders relate to the following areas in Orellana y Sucumbios provinces: Armadillo, Chanangue, Eno-Ron, Frontera-Tapi-Tetete, Ocano-Pena Blanca, Pucuna, Puma and Singue.

The eight areas have combined proven reserves of 116Mb of API grade 18-35 crude, and each area would require minimum investment of US$150,000.

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