Ecuador and Chile's ENAP renegotiated an oil agreement, investing $90M until 2035 for an Ecuadorian Amazon oil block, increasing reserves by 5.6M barrels.
Ecuador and Chile's ENAP subsidiary renegotiated an existing oil agreement, adding a $90 million investment until 2035 for an oil block in the Ecuadorian Amazon. The new agreement signed on July 15 increases crude oil reserves by 5.6 million barrels, with 98% of the new investments to be completed within the first 5 years. ENAP originally signed a service contract in 2010 for the operation of three blocks in Ecuador.
July 20, 2024
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