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April 28, 2022

Chanangue Conventional Oil Field, Ecuador

By Carmen

Chanangue is a conventional oil development located onshore Ecuador and is operated by Gran Tierra Energy . Discovered in 1990, Chanangue lies in block Block 51 (Chanangue).

The project is currently in feasibility stage and is expected to start commercial production in 2023.

Field participation details

The field is owned by Gran Tierra Energy .


Production from Chanangue

Production from the Chanangue conventional oil development project is expected to begin in 2023 and is forecast to peak in 2027, to approximately 2,845 bpd of crude oil and condensate and 1 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2089.


Remaining recoverable reserves

The field is expected to recover 18.72 Mmboe, comprised of 17.82 Mmbbl of crude oil & condensate and 5.38 bcf of natural gas reserves.


About Gran Tierra Energy

Gran Tierra Energy Inc (Gran Tierra) is an international exploration and production company. It acquires, explores, and develops oil and gas fields. The company produces crude oil, natural gas and oil equivalent resources from its fields. Gran Tierra has onshore oil and gas properties in Colombia.The Company is focused on its existing portfolio of assets in Colombia, and will pursue new growth opportunities, leveraging the Company’s financial strength. It sells oil to Ecopetrol S.A., Petroleo Brasileiro S.A, and other parties. It also entered into Ecuador through contracts for three blocks. Gran Tierra is headquartered in Calgary, Canada.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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