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Ministry, groups ink marginal field contracts
Source: Bnamericas
Date: 03/13/2008 00:00
Ecuador`s mines and oil ministry and consortiums Petrolero Pegaso and Petrolero Amazónico have signed contracts for three marginal fields, the ministry said in a statement.
State oil company Petroecuador`s special tenders committee in December awarded Pegaso the Puma field and Amazónico fields Pucuna and Singue.
The state will have a 90% participation in Pucuna and 79% and 72% respective stakes in Puma and Singue.
The consortiums will invest US$109mn in the next three years to improve the fields` output, which is expected to increase by 12,000b/d.
Pucana last reported production of 1,627b/d in January 2005, Puma in November 1995 for 208b/d and Singue in December 1997 for 173b/d, a ministry spokesperson told BNamericas.
Remaining reserves at Pucuna (Orellana province), Puma (Orellana) and Singue (Sucumbíos) are 8.21Mb, 13.9Mb and 2.04Mb, respectively.
Colombian firm Ismocol, US company Upland Oil and Gas and local firm Pecs Ieconsta make up Pegaso.
Venezuelan companies Suelopetrol, Proinci, NCT Energy Group and NCT Estudios y Proyectos along with Ecuadorian firm Dygoil Consultoría y Servicios Petroleros make up Amazónico.
PENDING FIELD AWARDS
Marginal fields Frontera-Tapi-Tetete and Armadillo have yet to be awarded due to legal issues the attorney general`s office is reviewing, the spokesperson said.
While no offers were received for Chanangue, Eno Ron and Ocano-Peña Blanca, the spokesperson added.

