Ecuador Extends PCR Contract For Pindo Oil Block Through 2037
Ecuador signed a USD 69 million contract extension with Petroquímica Comodoro Rivadavia (PCR) to operate the Pindo oil block through December 31, 2037.
The block is located in Orellana.
Contract Scope
The extension covers production growth through:
- Three exploratory wells
- Four development wells
- Three workovers using advanced hydraulic-fracturing techniques
- New production facilities
- Associated-gas capture and compression systems
- Studies for a photovoltaic-energy project
Fiscal And Production Projections
The Ministry of Environment and Energy says the contract will generate about USD 276 million in additional income for the state.
That figure is equivalent to 91% of the oil rent generated by the block. Projected accumulated production is 9.39 million barrels of crude through 2037.
What To Watch
Watch drilling execution, environmental and community approvals, workover productivity, and whether gas-capture systems reduce operating losses or compliance risk at the block.
Source
Primicias — “Gobierno extiende contrato con la empresa PCR para operar el bloque petrolero Pindo hasta 2037”
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