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November 23, 2021

Victor Hugo Ruales Conventional Oil Field, Ecuador

By Carmen

Victor Hugo Ruales is a producing conventional oil field located onshore Ecuador and is operated by Petroamazonas EP. The field is located in block Block 58 (Cuyabeno Tipishca).

Field participation details

The field is owned by EP Petroecuador.


Production from Victor Hugo Ruales

The Victor Hugo Ruales conventional oil field recovered 50.42% of its total recoverable reserves, with peak production expected in 2021. The peak production was approximately 9.17 thousand bpd of crude oil and condensate and 2 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2079. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 49.24 Mmboe, comprised of 47.92 Mmbbl of crude oil & condensate and 7.91 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.

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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