The Hydrocarbons Secretariat of Ecuador (SH) divulged in August 2018 that talks began between state-run Petroamazonas and the government agency in July 2018 to evaluate the most suitable time to return exploratory areas of interest for the planned round from Petroamazonas to the state. Around 14 undeveloped fields possibly in 11 blocks currently held by Petroamazonas are being considered. These assets are considered as small assets with 157.4 MMbo of reserves estimated, which are more likely to appeal to smaller companies. An investment of around US$ 1.2 billion is estimated in total for all the areas. Petroamazonas does not have the inclination or the budget to invest in these undeveloped assets. Petroamazonas has offered to hire international consultants to assess and certify the estimated volume of hydrocarbons in these blocks. The blocks will be offered under the 'Participation' contract (PSC) model.
The Hydrocarbons Secretariat of Ecuador (SH) divulged in August 2018 that talks began between state-run Petroamazonas and the government agency in July 2018 to evaluate the most suitable time to return exploratory areas of interest for the planned round from Petroamazonas to the state. Around 14 undeveloped fields possibly in 11 blocks currently held by Petroamazonas are being considered. These assets are considered as small assets with 157.4 MMbo of reserves estimated, which are more likely to appeal to smaller companies. An investment of around US$ 1.2 billion is estimated in total for all the areas. Petroamazonas does not have the inclination or the budget to invest in these undeveloped assets. Petroamazonas has offered to hire international consultants to assess and certify the estimated volume of hydrocarbons in these blocks. The blocks will be offered under the 'Participation' contract (PSC) model.