Press Release

EP Petroecuador achieves a surplus of more than 9,000 million dollars and higher execution by 2022 in the public sector

Bnamericas Published: Wednesday, January 25, 2023

Petroecuador Statement

This is an automated translation of the press release issued in Spanish

EP Petroecuacor reports that it reached the best execution in the public sector in 2022 with 95.04% as of December and a referential surplus of 9,007 million dollars for the benefit of State resources.

Expenditures correspond to funds from the Oil Derivatives Financing Account (CFDD), investments mainly in exploration, and costs and expenses in key areas of the value chain such as exploration and production, refining, transportation, and national marketing.

Within the strategy of EP Petroecuador to increase oil production, the Ministry of Economy and Finance assigned a greater amount of resources to these activities, leveraging the fulfillment of business objectives by 96.5%.

At present, EP Petroecuador has 1,785 wells in production, 25 in reconditioning and 4 in drilling, for a total production of 406,914 barrels equivalent to oil per day.

EP Petroecuador optimizes its activities, managing the efficient management of the budget and generating greater benefits for Ecuadorians, with positive results for the country.

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