Ecuador opens auction for energy rights including offshore Amistad gas field

Ecuador opens auction for energy rights including offshore Amistad gas field

Ecuador has launched a bidding round for foreign firms to develop some of its energy reserves including an offshore natural gas field in the Gulf of Guayaquil, according to Reuters.

A winning bidder will have the right to operate the Amistad gas field under a 10-year service contract.

It is currently being operated by the South American nation’s state oil firm Petroamazonas and produces 39 million cubic feet per day (MMcf/d) but Ecuadorean authorities hope bid winners will be able to boost output of existing wells and explore for new reserves.

The auction process is expected to end in June.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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