Petroecuador, Olade Ink Output, Transport Study Deal
Latin American energy organization Olade has signed a contract with Ecuador's state oil company Petroecuador to conduct a US$73,500 study of the latter's oil production and transport activities, according to a government statement.
Olade will present within 30 days a report regarding national hydrocarbons department DNH's declaration of possible crude theft from Petroecuador fields as well as a report on the company's audit of the bypass systems discovered on them.
Olade will propose recommendations, improvements and conceptual engineering for the company's transport and production systems within 60 days, the statement said.
DNH declared Petroecuador's oil production figures have been 4% higher than DNH's since 1995, which motivated Petroecuador to call for the Olade study.
Petroecuador's Petroproduccion production subsidiary produced at a rate of 339,231b/d in August, BNamericas reported last month.
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