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Ecuador to Offer Gas Exploration Licenses

NATURAL GAS

Ecuador is planning to offer blocks for offshore exploration and production of natural gas at the Gulf of Guayaquil – most likely in 2024 according to its energy minister.

  • The country plans to boost its crude production to 750,000 bpd by 2025, up from 490,000 bpd currently.
  • Millions of barrels of Ecuadorian crude could be offered soon on the spot market following an oil-for-debt renegotiation between Ecuador and China's Petrochina the energy minister said. The crude will be offered via open tenders.

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