Ecuador’s government has opened bidding for exploratory rights to eight onshore blocks in the Oriente basin.
The blocks, offered under production-sharing terms, are labeled Charapa, Chanangue, Perico, Iguana, Sahino, Panayacu Norte, Espejo, and Araza Este. All are near established oil and gas fields in Sucumbios Province.
The Ministry of Energy and Nonrenewable Resources will accept bids in Ecuador’s seventh licensing round until mid-January and plans to sign contracts by mid-March.
Prospective bidders will be screened according to their financial and technical capacities, abilities to operate licenses with at least 40% interests, and polices for health, safety, and environment.
