Ecuador Starts Exploitation Activities at Tiputini

Instant Max AI

(Energy Analytics Institute, 9.May.2016, Clifford Fingers III) – Ecuador starting exploitation activities at the Tiputin field, part of the Yasuní ITT block in July 2016, reported the news agency AFP, citing a statement from the country’s Hydrocarbon Ministry.

The Tiputini 04 well in Block 43 has estimated potential to produce up to 5,000 barrels per day, said Hydrocarbon Minister José Icaza Romero during a visit to the block.

A total of 40 wells are planned to recuperate an estimated 166 million barrels of reserves with an estimated investment of $2.6 million per well.

“Initial production is expected in July 2016,” said Romero. “It is estimated that by December 2016 average production will reach 20,000 barrels per day.”

The Tiputini field — which is located outside of the Yasuní — forms part of the ITT Block with estimated 920 million barrels of crude, and represents 20 percent of Ecuador’s total oil reserves.

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