Ecuador Announces New Exploration Licensing Round; IHS will Facilitate Road Shows
Round to offer 13 oil prone blocks to industry in a relatively unexplored region on trend with established reserves in excess of eight BBO
The Hydrocarbons Secretariat of Ecuador (SHE), the entity in charge of Ecuador’s oil and gas resources, has enlisted IHS (NYSE: IHS), the leading global source of information and analytics, to facilitate a series of road shows for the Ecuador Southeastern Round, which will offer 13 oil blocks for lease in the country’s southeastern region, near the border with Peru. The round was announced Nov. 28, 2012, in Quito, by Wilson Pástor, minister of Ecuador’s Nonrenewable Natural Resources.
“We are beginning a new era of exploration in Ecuador,” said Pástor. “We have not explored enough in the past 15 years, and it is time for Ecuador to attract new foreign investment to move our industry and country forward and to increase our reserves.”
The exploration blocks on offer include blocks 22, 29, 70, 71, 72, 73, 77, 79, 80, 81, 83, 84 and 87. According to SHE, the frontier blocks on offer are largely unexplored — available 2-D seismic data has been shot on eight of the blocks. Proven reserves exist in and near some of the blocks, and are estimated at more than 100 million barrels, according to data analysis provided by the French Institute of Petroleum and Ecuadorian experts.
Road show presentations for the Ecuador Southeastern Round are scheduled for January 30, 2013, at the JW Marriott Hotel in Bogota; and February 4, 2013, at the Westin Oaks Hotel in Houston. Additional round presentations are scheduled for February 26, 2013, in Paris; March 20, 2013, in Singapore, and March 25, 2013, in Beijing, with venue locations to be announced shortly.
“We are pleased to assist Minister Pástor and SHE with the facilitation of its road shows for this round,” said Tim Zoba, IHS Consulting. “We look forward to bringing together the ministry representatives with members of industry and representatives of oil companies to discuss the blocks on offer.”
During the road show presentations, the Ecuadorian ministry will present technical details and discuss the hydrocarbon potential for the 13 blocks, which are large blocks averaging 247 square kilometers in size. Details regarding available data, data packages, legal terms, social work program requirements, and submission requirements will also be presented.
The road shows are open to oil and gas and service companies, but pre-registration is required. To register for the presentations, send name, title, company, full contact details and desired presentation date(s) to: BidEcuador@ihs.com. The agenda for the presentations and other updates on the event will be posted as they become available on http://www.ihs.com/events/ihs/southeastern-equador-licensing-bogota-jan-2013.aspx
Additional technical information regarding the round is available directly from the Ecuadorian Ministry/SHE (currently in Spanish only) at www.she.gob.ec/portal/es/hidrocarburos/79.
Media Please Note: Limited seating is available at the road show presentations for credentialed members of the business and energy industry news media interested in covering the event, but all media must register in advance by contacting Melissa Manning at email@example.com or +1 832-458-3840. Please send name, organization, phone, e-mail, and organization Web site.
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