Ecuador prepares to bring Tiputini field into production
Ecuadoran state E&P operator Petroamazonas is scheduled to begin oil output at the Tiputini field in block 43 in July.
The update follows a visit by hydrocarbons minister José Icaza Romero to verify production testing of a third Tiputini well which has potential to produce up to 5,000b/d.
Tiputini drilling began in March and the goal is to hit 20,000b/d in December.
Petroamazonas has budgeted US$150mn this year for block 43 which covers 190,000ha in Orellana province and holds an estimated 920Mb.
The company reported record production in April with 366,754b/d, compared with 365,942b/d in the same month of last year. A study by Wood Mackenzie forecasts the state operator's operational costs this year at US$17/b.
Hydrocarbons regulator ARCH reports that Petroamazonas produced 364,283b/d on May 18, followed by sister state E&P operator Río Napo with 73,248b/d and private companies with 111,494b/d.
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