Scant Interest in Ecuador's Amazon Oil Blocks

摘要

Ecuador drew bids for just four of 16 oil blocks it offered in its Amazon jungle region, which could potentially contain a total of 1.5 billion barrels of crude. A subsidiary of Spain's Repsol YPF -- Repsol Cuba -- and China's Andes Petroleum made offers for three blocks, Minister for Non- Renewable Natural Resources Pedro Merizalde said late on Thursday. It will take Ecuadorean authorities five months to finalize the awards. Ecuadorean state oil producer Petroamazonas, in partnership with Chile's Enap and Belarus's Belorusneft, will begin the development of a fourth block.