LatinNews Daily - 05 March 2018

Ecuador: Petroamazonas, a branch of Ecuador’s state-owned oil company, Petroecuador, has announced the opening of a new oil field in Orellana province called ‘Campo Tortuga’. An exploratory well at Campo Tortuga is now producing 1,200 barrels of oil per day (bpd). According to the hydrocarbons ministry, the exploratory well is designed to gather information on the ‘Hollín Superior’ reservoir, one of three reservoirs located in the field. Once the geological analysis of the reservoirs in Campo Tortuga is complete, Petroamazonas estimates that the field could be found to contain some 10m barrels of oil. Petroamazonas currently produces 403,000bpd at a value of US$16.90 per barrel, most of which is exported.

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