Ecuador to ofer concession for legacy oil feld

摘要

Ecuador aims to raise over $1bn from a planned concession for the 67,000 b/d Sacha oil feld, one of the country’s legacy upstream assets. The block 60 feld in Orellana province is operated by state-owned PetroEcuador, which absorbed its upstream counterpart PetroAmazonas this year. Sacha’s reserves are estimated at 350mn bl. The planned concession is among the austerity measures of President Lenin Moreno’s outgoing administration, designed to strengthen Ecuador’s fnances, as agreed with the IMF.