Ecuador’s oil production reaches 400,064 barrels per day

Photo: Metro Ecuador
Photo: Metro Ecuador

Crude production recovers to 400,064 barrels per day, after a year in which it had dropped due to technical and cyclical reasons.

In a statement, Petroecuador said that this May 13 it exceeded 400,000 barrels per day, including the Amistad field.

The state oil company controls almost 80% of crude oil production since it is the main export product and source of foreign exchange income. The rest is in the hands of private companies, although the president-elect, Guillermo Lasso, has already anticipated that his government will promote activity through contracts that attract foreign investment.

Lasso would have in mind to «double» the exploitation, although that would happen in several years.

According to the Petroecuador statement, the company’s most productive fields are: Auca, Sacha, Shushufindi, Block 43-ITT, Apaika, Edén, all of them in the Amazon.

The general manager of Petroecuador, Gonzalo Maldonado, indicated that the return to normal production of the state company is part of the company’s commitment to maintain the production quota until the end of the period of this Government.

He commented that by resuming activities that were suspended, this objective was achieved, despite the restrictions due to the pandemic.

The official explained that in order to reach the goal, a «strategy of drilling directional and horizontal wells» was executed in six of its fields.

He announced that the Auca J-134H well started operations this Wednesday, with a potential of 3,000 barrels of oil per day.

Maldonado said that the strategy includes the analysis of each of the wells for reconditioning.

At the beginning of 2020, and after Ecuador withdrew from the Organization of Petroleum Exporting Countries (OPEC), production was around 540,000 barrels per day

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