LatinNews Daily - 19 October 2022

*Ecuador’s energy ministry has revealed that 16 international oil companies have expressed an interest in investing in six exploratory blocks which could add an additional 24,000 barrels of crude per day (bpd) to national oil production. The announcement follows the launch of US$2.1bn bidding process at events in the US and Mexico for the Intracampos II blocks. According to an energy ministry statement, the private companies to have expressed an interest are from Peru, Colombia, Mexico, US, Canada, Scotland and Egypt although names were not provided. Deputy energy & mining minister, Xavier Briz, said that the ministry was projecting that exploratory drilling would take place at seven wells in 2022 and 12 additional wells next year. This is part of efforts by the government led by President Guillermo Lasso to significantly boost oil production.

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