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Oil & Gas - Ecuador

Proyecto Yasuní ITT

Description

The Yasuní project involves developing the Ishpingo, Tambococha and Tiputini (ITT) heavy oil fields. It has estimated reserves of 846 million barrels of oil, equivalent to the 20% of the country's reserves. Development of fields Tiputini and Tambococha is expected to reach average of 200,000b/d from these areas, requiring US$2.8bn and US$5bn more if Ishpingo is developed alongside the other two fields. The development includes the construction of an oil pipeline.

Due the lack of international support, Ecuador ended an agreement to avoid oil drilling in the project area.  The agreement called for Ecuador to place an indefinite moratorium on drilling in the Yasuní national park.

 

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General Information

Short names Yasuní ITT
Country Ecuador
Primary activities, subsector Oil & Gas
Secondary activities Upstream - Exploration

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