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Ecuador Political News

Waiting for new contracts, oil companies remain in inertia

Ecuador negotiates investment for 727.85 million in four fields in the Amazon

Ecuador’s oil production reached 497,664 barrels per day between January and August 2021, 7.36% more than the same period of the previous year.

Ecuador expects to increase its oil production by 8% by the end of the year, that is, until reaching a goal of 530,000 barrels per day.

During the first seven months of the year, oil production averaged 497,664 barrels per day, according to the Ministry of Energy. Of that total, 80% corresponds to the state-owned Petroecuador and 20% to private and foreign companies.

To read the full story on Primicias, click here.

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