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LatinNews Daily - 24 May 2019

In brief: Ecuador

* Ecuador’s government has signed seven contracts corresponding to the 'XII Intracampos' licensing round worth a total investment of US$1.17bn for the development of the following oil fields: Arazá Este, Iguana, Perico, Espejo, Sahino, Charapa, and Chanangue, which are located in Sucumbíos province. The companies who signed the contracts were: Petróleos Sudamericanos del Ecuador Petrolamerec SA (which will develop two fields); Gran Tierra Energy Colombia LLC (three), and a consortium comprising Frontera Energy Colombia Corp and Geopark Perú SAC for the other two. According to a government press release, by 2024 the seven oil fields will contribute around 18,000 barrels per day to national production.