PDVSA, Petroecuador Pen MoU on Sacha Mature Field

Venezuela's state oil company PDVSA and its Ecuadorian counterpart Petroecuador have signed an MOU to optimize production at the latter country's Sacha mature oilfield, Ecuador's President Rafael Correa said during a press conference.

PDVSA will introduce "state-of-the-art" production technologies to expand output at Sacha, Correa said.

As a result, output at Sacha could double in 36 months from current rates of roughly 46,000b/d, Correa said.

Correa wants Petroecuador to focus on expanding the country's remaining four mature fields, possibly with PDVSA help.

The president has tasked Petroecuador with expanding output past today's level of 175,000b/d by year-end.

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