The ITT project, or more commonly known as block 43, involves developing the Ishpingo, Tambococha and Tiputini heavy oil fields located within the Yasuní national park. Because of a lack of international support, Ecuador abandoned a plan to not drill in the environmentally protected area. Under the plan, Ecuador had said that, in exchange for financial contributions from the international community, it would not allow E&P activity there. Then, on October 3, 2013, block 43 was declared to be of national interest. Soon after, by January 2014, Ecuador's ministry of hydrocarbons had awarded block 43 directly to its NOC, PetroAmazonas, to carry out development work there. On May 22, 2014, the company was awarded an environmental license to begin development of Tambococha and Tiputini fields. Environmental consulting firm Sabito has overseen the project's development.
| Full Name || Block 43 (Yasuní ITT) |
| Project Type ||Upstream |
| Development Phase ||Licensing |
| Project Status ||Active |
| Project Capacity || Upstream |
| Investment ||US$ 2.8bn |
| Completion Date ||2016 |
| Location || |
The ITT fields are located in Aguarico canton, Ecuador.
* The map coordinates represent the approximate latitude and longitude, and not the exact location of the project.
Only BNamericas Subscribers Can Access This Information.
Subscribe to BNamericas to gain better insight into project development and contract opportunities in Latin America.
- Early-stage and under-development projects throughout the region
- Project coverage focused on biggest investments in each country and sector
- Project milestones highlighting planned and unplanned developments
- Sales contacts within operators and contracted companies
- Access to experienced research staff
- Risk analysis of cost increases, scheduling conflicts and regulatory environment
This project profile is one of hundreds of projects being inputted, updated and researched daily, focusing on major milestones, associated companies and business contacts for active Oil & Gas. Including industry-specific information, insight and forecasts for Latin American business opportunities, Business News Americas also focuses on active companies and business and sales contacts , providing networking opportunities with leading executives Contact us today! Phone:+56 (2) 2941-0300