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Block 43 (Yasuní ITT)


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. Five exploratory wells have been drilled in the block to date, the latest in 1993, which have yielded 920Mb of 2P reserves. There is currently a camp at the block which is home to the workers' quarters and a road that leads to the Tiputini C rig. Operations at Tiputini field are expected to begin by first half of 2016.

Full Name Block 43 (Yasuní ITT)
Development Phase EIS - Approved
Investment US$ 2.8bn
Location

The ITT fields are located in Aguarico canton, Ecuador.

* The map coordinates provided represent the approximate latitude and longitude, and not the exact location, of the project in question.

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Name Sector Country Ownership Relation
Locked content Project Owners

Key Contacts

Name Company Contact Position
Locked content Owner / operator
General Manager
Head of Communications
Exploration manager
 
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