Eni has signed a new service contract with the Government of Ecuador for the Villano oilfield in block 10 in the Oriente Basin, which is located in the country’s eastern region.
Eni will continue its operations in Ecuador, extending the contract through to 2023, with 50 million barrels of oil still to be recovered.
Under the new contract, block 10 will be expanded to cover a prospective exploration area that includes the Oglan oil discovery, which is located 7km from the Villano processing facility.
Villano produces 18,000 barrels per day.
Eni has operated the Villano field under a service contract with state oil company Petroecuador since 2000 through its subsidiary Agip Oil Ecuador.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
