Ecuador attracts international interest to boost flow at largest gas field
Ecuador’s state-owned EP Petroecuador has attracted offers from 14 companies to help bolster production at the country’s largest gas field in an international tender, it said on August 18.
The field, known as Block 6 or Campo Amistad, is situated in the Gulf of Guayaquil some 55 km from Puerto Bolivar. Applications to develop it were accepted until August 17, and a contract is due to be awarded in late October.
Over a span of 15 years, the winning applicant is expected to invest over $173mn, funding the drilling of four exploratory wells, the restoration of three operational wells, and the development of new infrastructure. Petroecuador will remain operator, while the Ecuador state will pay a fee for incremental gas that is extracted.
Petroecuador CEO Ramon Correa, said by attracting private investment, output at Campo Amistad could be raised from the current 21mn ft3/day to 73mn ft3/d, helping Ecuador cover its demand. The extra gas will be supplied to the Termogas de Machala power plant 60 km away, as well as local industry.
Campo Amistad is Ecuador’s only offshore field in production. Launched in 2002, the development has 167.3bn ft3 in certified proven and probable reserves, according to Petroecuador’s data, along with a further 241bn ft3 in prospective resources.