Petroecuador: Seismic Data Indicates 360 Bcf of Probable Gas Reserve
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New seismic data from Ecuador's offshore Amistad gas field, according to Petroecuador, indicates a probable gas reserve of up to 360 billion cu. ft. The Quito-based national oil company reported the finding from the Amistad Norte and Amistad Sureoeste areas of Block 3. The block was formerly operated by Noble Energy Inc. and was nationalized by the Ecuadorian government in 2010 when Noble refused to alter its production-sharing contract to a service agreement. The seismic data was acquired and processed by local geophysical company Ilvetecnica, and then analyzed by a Russian institute. According to Petroecuador, two major gas and oil prospects were located in Amistad Norte, while two smaller prospects were found in Amistad Suroeste; exploration wells will be required to confirm the reserves. Currently, Block 3 produces approximately 35 million cu. ft. of gas per day.
New seismic data from Ecuador's offshore Amistad gas field, according to Petroecuador, indicates a probable gas reserve of up to 360 billion cu. ft. The Quito-based national oil company reported the finding from the Amistad Norte and Amistad Sureoeste areas of Block 3. The block was formerly operated by Noble Energy Inc. and was nationalized by the Ecuadorian government in 2010 when Noble refused to alter its production-sharing contract to a service agreement. The seismic data was acquired and processed by local geophysical company Ilvetecnica, and then analyzed by a Russian institute. According to Petroecuador, two major gas and oil prospects were located in Amistad Norte, while two smaller prospects were found in Amistad Suroeste; exploration wells will be required to confirm the reserves. Currently, Block 3 produces approximately 35 million cu. ft. of gas per day.