Local news reported in late April 2019 that Petroandina Resources Corporation, part of the Grupo Pluspetrol, has acquired Agip Oil Ecuador (part of ENI) stocks. Â Government approval was requested in December 2018 and purchase has been approved by Ecuadorâs Superintedencia de Control de Poder del MercadoÂ (Superintendence Securities and Market Control). Agip Oil signed a risk service agreement with Petroamazonas for Block 10, located in the Napo Basin on 23 November 2010. ENI has reported estimated 2P reserves of 300 MMb of heavy oil in place for the Oglan Field, located in the Block 10. The Villano Field was discovered in May 1992 and produced in 2017 approximately 3.9 MMb/d of 21o API oil in the Main Hollin Member sandstone.   According to Ecuadorâs Secretaria de Hidrocarburos negotiations are still ongoing with ENI regarding the development plan for the Oglan field, Block 10 (Villano), located in the Napo Basin â talks started in late January 2015. ENI proposed a change from Service Contract to Participation Contract, however according to Decree 449, it is not possible. Therefore, the service company planned to submit a new proposal.   Background Information   Industries sources reported in late January 2015 that ENI is in discussion with authorities in Ecuador regarding the development plan for the Block 10 (Villano). On 20 September 2014 ENI announced oil production from the Oglan 2 Outpost well, located in Pastaza Province in the northwest part of the block. The well lies 30 km (18.6 miles) west-northwest of the Villano Field on the block. The Oglan 2 well appraised a 1972 discovery on the block, Oglan A-1 in the Lower Cretaceous Hollin Formation. The well was drilled to a total depth (TD) of 1,966 m (6,450 ft) and encountered a 72 m (236 ft) column of 16Â° API crude in the Lower Cretaceous Main Hollin reservoir. A subsequent production test flowed 1,100 bo/d, constrained by surface facilities, and ENI estimates that a production well could flow rates of up to 2,000 bo/d can be achieved. The company is considering options for development of the discovery, possibly utilizing the facilities at the Villano Field some 7 km away in the same block.   Â   .
Petroandina Resources Corp, part of the Grupo Pluspetrol, has acquired Agip Oil Ecuador (part of ENI) stocks. Involved is Block 10, located in the (ENI has reported estimated 2P reserves of 300 MMb of heavy oil in place for the Oglan Field).