Operaciones Río Napo, a mixed company shared by Petroeduador at 70% and PDVSA Ecuador S.A. at 30%, entered into a service agreement with Petroproducción, a subsidiary of Petroecuador, for management, increased output, development, upgrade, comprehensive improvement and drilling of the Sacha field, in the Ecuadorian Amazonian region, 300 kms. of Quito.

The execution of this instrument is under the agreements and memos of understanding between the Republics of Ecuador and Venezuela, within the framework of energy cooperation and integration of both countries for their people’s development, based on a great opportunity of investment and the utilization of technology transfer.

The Sacha field was discovered in 1969; its production started in 1972. It contains 3.45 billion barrels of oil originally in place (OOIP), and produces approximately 50,000 bpd of 28° API crude oil.

To date, a total of 225 wells have been drilled. The technical teams of Petroecuador and Petróleos de Venezuela, through PDVSA Ecuador are to join efforts in order to exploit and develop the best oilfield in the southern country.

Tags: PDVSA