THE FUTURE OF HYDROCARBONS EXPLORATION IN LATIN AMERICAFebruary 8, 2018
ECUADOR ́S INVESTMENT IN HYDROCARBONS
According to Carlos Pérez, Minister of Hydrocarbons, the Government of Ecuador expects to receive $ 1,000 million for investment in new projects in the oil sector. The government is very interested in developing oil production for which it is designing specific plans to obtain the support of important companies.
There are 10 fields in negotiation, two of them already have defined ratesPetroamazonas will continue operating in Sacha field in Orellana. It will produce 50,000 barrels of crude oil in the fields of Tambococha and Tiputini. There are 23 companies interested in these contracts. This way, its goal can get certainly obtained.
The government is making very important companies, like Exxon Mobil, want to invest in oil in our country due to the change of image an policies.
In addition, several companies from different countries want to invest in the Pacific Refinery, a project that will not be carried out if there are no offers from serious and formal companies that are in charge of this project Minister of Hydrocarbons and other authorities went to Houston last October, to search investment opportunities. This action proves the effort of Ecuadorian government to develop oil area.
It offers investors a commission for each barrel produced a policy that had changed with the previous government, which reduced foreign investment in this area.
We hope the efforts government is making positive changes that give us favorable results for the revenues and the future of the oil area of the country.