Petroecuador to Award Marginal Fields November 22
Lawyers and technicians from Ecuador's state oil company Petroecuador have opened economic bids for seven marginal fields being tendered in the Amazon region, a company spokesperson told BNamericas.
The tenders relate to the following fields: Armadillo, Chanangue, Frontera-Tapi-Tetete, Ocano-Pena Blanca, Pucuna, Puma, Singue and Eno-Ron, although none of the companies submitted bids for the eighth Eno-Ron field.
Petroecuador's special tender committee will receive a definitive report regarding the offers on November 21 and is expected to announce the winning bidders the following day, the spokesperson said.
The fields' proven reserves total some 120Mb and initial development investment is expected to total US$300mn, BNamericas previously reported.
Frontera-Tapi-Tetete already produces 4,338b/d and Pucuna 1,619b/d. The others are not yet producing.
Crude at the fields ranges from 18-34 API, with the highest coming from Frontera-Tapi-Tetete, Chanangue and Pucuna.
The ministry expects the contracts to increase total production from the fields more than 400% to 30,000b/d.
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