Ecuador Sees $1.5 Billion To $2 Billion Private Investments For Mature Oil Fields
08 Julho 2011 - 6:43PM
Dow Jones News
Ecuador's expects to secure between $1.5 billion and $2 billion
in private investments over the next five years for four mature oil
fields, state news Agency Andes reported Friday.
The four state-run Petroecuador oil fields--Shushufindi,
Libertador, Auca, and Cuyabeno--produce about 140,000 barrels of
oil a day, Andes said.
Production at these mature fields has been declining by up to
12% per year.
Petroecuador is seeking to boost production at its mature and
older oil fields by between 15% and 20% by inviting investment.
Schlumberger Ltd. (SLB), Baker Hughes Inc. (BHI), Halliburton
Co. (HAL) and Ecuador's Sertecpet are among companies interested in
Shushufindi, Auca, Cuyabeno and Libertador, respectively.
Last year, Petroecuador called on private companies interested
in service contracts to boost production at these four oil fields
and Lagro Agrio, but Lago Agrio received no offer.
Ecuador's minister of nonrenewable natural resources, Wilson
Pastor, has said that the contracts will be signed in September or
October.
Initially, the contracts for mature fields had been expected to
be signed this month.
-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653;
mercedes.alvaro@dowjones.com
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