EDC's Ecuador Acreage [22697 bytes] Ecuador has awarded an exploration and development contract to Energy Development Corp. (EDC), Houston, on a large offshore tract in the Gulf of Guayaquil. State company Petroecuador estimates gas reserves on the 3,497 sq km Block 3 at about 350 bcf. Most of that volume is attributed to Amistad field, where previous drilling scored three gas discoveries and a fourth well with gas shows. Water depths on the acreage range to 300 ft. EDC has 100% interest in
Ecuador has awarded an exploration and development contract to Energy Development Corp. (EDC), Houston, on a large offshore tract in the Gulf of Guayaquil.
State company Petroecuador estimates gas reserves on the 3,497 sq km Block 3 at about 350 bcf. Most of that volume is attributed to Amistad field, where previous drilling scored three gas discoveries and a fourth well with gas shows. Water depths on the acreage range to 300 ft.
EDC has 100% interest in the contract and is operator of the tract.
EDC agreed to a $45 million exploration program to include drilling four wells in 4 years and collecting 4,000 sq km of 3D seismic data. In addition, contract terms call for an environmental survey of the acreage and training Ecuadorian personnel.
EDC plans to start the training programs immediately but didn't disclose when seismic surveying might commence or possible development scenarios.
Copyright 1996 Oil & Gas Journal. All Rights Reserved.
![EDC's Ecuador Acreage [22697 bytes]](http://images.pennwellnet.com/ogj/images/ogj/630nec.jpg){kind=link}