Victor Hugo Ruales is a producing conventional oil field located onshore Ecuador and is operated by Petroamazonas EP. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block Block 58 (Cuyabeno Tipishca). Buy the profile here.
Field participation details
The field is owned by EP Petroecuador.
Production from Victor Hugo Ruales
The Victor Hugo Ruales conventional oil field recovered 51.70% of its total recoverable reserves, with peak production expected in 2023. The peak production was approximately 9.29 thousand bpd of crude oil and condensate and 1.00 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2082. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 49.79 Mmboe, comprised of 48.65 Mmbbl of crude oil & condensate and 6.87 bcf of natural gas reserves. Victor Hugo Ruales conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
About Petroamazonas EP
Petroamazonas EP (Petroamazonas) is a state-owned oil and gas company which provides exploration and production of hydrocarbons and related substances. The company operates upstream oil and gas operations which include assets management, planning and management control, financial management, maintenance, information technology, operations and drilling, among others. It also provides programs and services such as data mangement, plans and manuals, safety health, software and environment, community relations, and drilling services. Petroamazonas explores and produces light, medium, heavy and extra heavy crude oil, as well as natural gas in Ecuador. Petroamazonas is headquartered in Quito, Pichincha, Ecuador.
For more details on the Victor Hugo Ruales Conventional Oil Field, buy the profile here.