Petroecuador Will Maintain the Block 43 - ITT Production at 60,000 Barrels

Source: 3/8/2021, Location: South America

The state oil company plans to increase the Block's production with the entry into production of the Ishpingo A and B platforms, starting in 2022.

In 2021, EP Petroecuador will drill eight wells in the Tambococha area, belonging to Block 43 ITT, and will maintain the production profile in Block 43 - ITT, at 60,000 barrels of oil per day. This was announced by the General Manager of the Company, Gonzalo Maldonado, during a technical visit to this Block, located in the province of Orellana.

Maldonado reported that these tasks are part of the drilling campaign for this year and that, starting in 2022, ITT production will increase with the progressive entry of the Ishpingo A and B platforms, once the development phase of the ecological access, the construction of facilities, among other operational aspects, planned for 2021. “We are defining some parameters related to the budget to continue with the drilling campaign in 2021 and later with that of 2022. In the case of Ishpingo, drilling is contemplated 72 wells, 36 on each platform. An estimated initial incremental production of between 600 to 3,000 barrels each is expected, aspects that have been determined with the exploratory and advanced wells ” , he indicated.

Likewise, he pointed out that to meet the production goal in Ishpingo, a campaign that includes at least two drilling rigs is needed, starting in 2022. "We will continue to develop this Block hand in hand with policies that are responsible for the environment, the communities in the area of ??influence and attached to what is established by the Constitution and current regulations , " reiterated the General Manager.

Currently, Block 43 - ITT is 76% complete. To date, it produces 59,471 barrels of oil per day, of which 36,597 correspond to the Tambococha area and 22,874 to the Tiputini area. It has 168 wells drilled between producers, formation water injectors and gravel cut injectors. This project also has the Tiputini Process Center (CTP), located outside the Yasuní National Park, which processes 650,000 barrels of fluids in six installed separators. This infrastructure, which is 65% complete in Phase I, plans to process 1,200,000 barrels in the future .

In addition, 163 environmental safeguards have been implemented in this Block, such as canopy bridges, depressed steps, among others, which allow maintaining the connectivity of the ecosystem and the genetic flow of species.

An agreement was signed with the Kawymeno community, located in the area of ??influence of Block 43 - ITT

In accordance with the legal provisions and the respective Environmental License, after a year of dialogue, joint work and respect for community organizational systems, EP Petroecuador signed the social compensation agreement with the Waorani community of Kawymeno for the development and production of the Ishpingo area. , which will be valid for six years and will allow the investment of the state oil company to improve the quality of life in the components of: infrastructure, health, education, sports, connectivity, basic services, mobility, transportation, organizational community support and work, 42 families and 162 residents of this town. All this activity will be carried out in strict adherence to current regulations and in coordination with the corresponding public authorities.

The General Manager of EP Petroecuador, Gonzalo Maldonado, stated that this agreement is a milestone in the history of the company and of the oil industry because it shows that through dialogue consensus can be reached for the benefit of the parties. "EP Petroecuador is committing to carry out very important projects with Kawymeno, which we are going to fulfill, as part of our social responsibility policies with you," he ratified.

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