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.
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.
- Ecuador to Offer Oil Blocks Under New Bidding Terms in Jan (Oct 06)
- Kemp: Oil Price War Inflicts Collateral Damage in Latin America (Feb 09)
- Ecuador's Petroamazonas Seeks Partners to Boost Oil Output (Sep 26)
Company: PDVSA more info
Operates 14 Offshore Rigs
Manages 26 Offshore Rigs
- Algeria Sends More Oil To Cuba As Venezuelan Supplies Fall (Jan 10)
- Venezuela's PDVSA At Risk Of Losing Bonaire Terminal Over Maintenance Delay (Dec 19)
- Paralysis At PDVSA: Venezuela's Oil Purge Cripples Company (Dec 15)