Drilling continues in Ecuador

Although several foreign operators have abandoned Ecuador operations this year, 118 wells were drilled during the first 9 months of 2006 (see table).Ecuador has oil reserves of 4.6 billion bbl, the third largest in South America, and the country’s oil production increased 31% during 2001-05 (OGJ, May 22, 2006, p. 28). Production is now about 175,000 bo/d.Repsol-YPF has been the most active foreign operator so far this year, drilling 25 wells with Helmerich & Payne rigs to an average MD greater than 10,000 ft.Perenco drilled 19 wells as operator for the B7-B21 consortium, in the Yuralpa field (Block 21), Oso field, and Lobo field (Block 7). Click here to enlarge imageAEC Ecuador...

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