Petroecuador subsidiary Petroproduccion will carry out Panacocha works under a contractual mechanism to be defined in the next few days.
The field is in Orellana province and has roughly 65Mb of reserves.
The state company at month-end also plans to launch bidding to produce from Petroproduccion mature blocks in the Amazon.
Additional details were not disclosed.
Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
Most Popular Articles
From the Career Center
Jobs that may interest you