Exploratory drilling begins at Block 51 Chanangue, belonging to the Intracampos I Round

By Ministry of Energy and Mines

This is a machine translation of the original press release issued in Spanish

The start-up of exploratory drilling in the Bocachico 1 well, this August 18, marks the beginning of the technical activities focused on the extraction of crude oil from the Chanangue Block, belonging to the Intracampos I Petroleum Bidding Round, which will be It is administered and operated by the Canadian company Gran Tierra Energy.

The Minister of Energy and Mines, Xavier Vera Grunauer, made a technical tour of the facilities of the camp located in the Chanangue Block, province of Sucumbíos. During this activity, the Secretary of State verified the startup of the drilling rigs in the Bocachico 1 well.

In this territorial agenda, the Head of the Energy and Mines Portfolio referred to the importance of specifying the strategic objectives contemplated in the Bidding Rounds, which promote private investment and contribute to the fulfillment of government policies to manage responsibly and sustainable energy and mining resources of the country.

“The drilling activities that will be carried out in the Chanangue Block, specifically in the Bocachico 1 exploratory well, estimate an approximate production of 630 barrels of crude oil per day and the eventual incorporation of new reserves. This is the first of 14 projected wells that will be developed to increase oil production, as is the goal of the Government of the Meeting. It is expected that in three years all the wells with a figure of 500 to 700 barrels per day will be in production. There is a sustainable execution, the platform is built in a mountainous area to minimize the felling of trees in flatter areas and contribute to minimizing the environmental impact” , said Minister Vera Grunauer.

During this agenda, the Country Manager of Gran Tierra Energy in Ecuador, Enrique Villalobos, stated that "t Gran Tierra we are focused not only on being a strategic partner for the country and respecting the fundamental rights of communities, but also on protecting the environment in the regions where we operate."

Gran Tierra obtained the Environmental License No. MAAE-SCA-2022-0005-R issued by the Ministry of Environment, Water and Ecological Transition; on February 25, 2022, for the execution of activities in Block 51 Chanangue.

The private operator fully complies with the provisions of current regulations and has implemented a community relations plan with the aim of building transparent relations with local communities. So far, 93% of the total jobs generated have been granted to residents of the Ecuadorian Amazon.

In this context, 99.8% of the services required by the company for the projects have been contracted with local providers. In addition, the company implemented a program called "Key Partners", which provides new alliances, training and strategic support. During 2022, the initiative has benefited 20 Amazonian enterprises.

The Government of the Meeting, led by President Guillermo Lasso, promotes actions focused on achieving objectives of national impact, which are aimed at responsibly managing the country's natural resources and strategic sectors, in order to improve the quality of families Ecuadorian.