Tender for 8 Marginal E&P Contracts Attracts 14
Fourteen groups have purchased bidding rules from Ecuador's state oil company Petroecuador for eight marginal E&P contracts in the Amazon region, Petroecuador said in a statement.
The tenders relate to the following areas in Orellana y Sucumbios provinces: Armadillo, Chanangue, Eno-Ron, Frontera-Tapi-Tetete, Ocano-Peña Blanca, Pucuna, Puma and Singue.
The eight areas have combined proven reserves of 116Mb, according to project documents obtained by BNamericas
The groups that have purchased bidding rules include the following: Tecpecuador; Sociedad Internacional Petrolera; Repsol YPF Ecuador; a consortium of Petrobras Energia Ecuador and others; a consortium of Petrobell and Grant Mining; a consortium of Petroleos del Pacifico and Pacifpetrol; CNPC International (Amazon); a consortium of Ecuavital and other companies; Colombia's Ecopetrol; a consortium of Dygoil Consultoria and others; Consorcio Petrosud Petroriva; Compañia General de Combustibles; and Emerald Energy.
The blocks feature API grade 18-35 crude and have a combined total area of 53,320ha, the project documents said.
Each of the contracts will require a minimum US$150,000 investment.
Petroecuador will receive and open technical bids for the E&P concessions on October 10 and open companies' economic bids on October 20.
The company will award the contracts between October 30 and November 11 and sign contracts from November 11-24.
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