Ecuador opens bidding for Oriente blocks

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| 1600年 / PennWell Publ Co, Tulsa, OK, United States卷 / 93期

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Contracts - Oil field development - Oil fields;

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摘要：

It is pointed out that Ecuador is now seeking bids for exploration and development rights on nine large oil tracts with an area equal to 494 thousand acres. The new form of contracts has been described. Exploration spending is estimated to be 100 million dollars. Large amounts of seismic, gravimetric and magnetic data should be collected, processed and interpreted by firms-winning bidders. The paper describes the bidding process in detail. Much attention has been paid to plans for the development of Panacocha and Tiputini oil fields. Besides, plans for environmental restoration and 'social compensation' related to the Texaco activities in Ecuador's oil production have been outlined.

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