UPDATE: Ecuador Licensing Round Road Show Schedule Finalized; Location for Houston Event Changed

Road shows will discuss Ecuador's 13 oil prone blocks on offer to industry

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Friday, February 1, 2013 9:52 am EST

"the blocks on offer will be developed under strict sustainability guidelines, and in no case will their development affect Ecuador's National Protected Areas System."

The Hydrocarbons Secretariat of Ecuador (SHE), the regulatory entity in charge of Ecuador's oil and gas resources, has announced a new Houston venue, as well as final event dates and locations for its series of road shows promoting the Ecuador Southeastern Round, announced IHS (NYSE: IHS), the leading global source of information and analytics, who is facilitating the road shows for the Secretariat.

 

The Houston road show will now be held at the Westin Galleria Hotel, 5060 W. Alabama Street, Monday, Feb. 4, 2013, instead of at the Westin Oaks Hotel, as previously communicated. Additional road show presentations for the Ecuador Southeastern Round are scheduled for Feb. 26, 2013, at the Marriott Rive Gauche Hotel and Conference Center, 17 Blvd. Saint Jacques, in Paris; March  20, 2013, at the Singapore Hilton, 581 Orchard Road, in Singapore; and March 25, 2013, at the Beijing Hilton Wangfujing Hotel, 8 Wangfujing East Street, in Beijing.

 

More than 100 delegates representing companies from North and South America, as well as Europe and Asia, attended the first road show held on Jan. 30, 2013, at the JW Marriott Hotel in Bogota. The Ecuador Southeastern Round, which will offer 13 oil blocks for lease in the country's southeastern region, near the border with Peru, was announced Nov. 28, 2012, in Quito, by Wilson Pástor, minister of Ecuador's Nonrenewable Natural Resources.

 

The exploration blocks on offer include blocks 22, 29, 70, 71, 72, 73, 77, 79, 80, 81, 83, 84 and 87. According to SHE, the frontier blocks on offer are largely unexplored - available 2-D seismic data has been shot on eight of the blocks. Proven reserves exist in and near some of the blocks, and are estimated at more than 100 million barrels, according to data analysis provided by the French Institute of Petroleum and Ecuadorian experts.

 

During the road show presentations, the Ecuadorian ministry and SHE team will present technical details and discuss the hydrocarbon potential for the 13 blocks, which are large blocks averaging 247 square kilometers in size. Details regarding available data, data packages, legal terms, social work program requirements, and submission requirements will also be presented.

 

Companies interested in exploring and developing the southeastern Ecuadorian blocks offered in the round must register and submit their tenders detailing an oil exploration program, operating rates, and accreditation detailing the company's financial experience and ability. The presence of an established sustainability/environmental management program is a prerequisite for all companies seeking to participate in the bid round. This environmental management program must be up to date, and must show prior consultation processes and history working with communities that have been impacted by the company's previous development projects.

 

According to the Ministry, "the blocks on offer will be developed under strict sustainability guidelines, and in no case will their development affect Ecuador's National Protected Areas System."

 

The road shows are open to oil and gas and service companies, but pre-registration is required. To register for the presentations, send name, title, company, full contact details and desired presentation date(s) to: BidEcuador@ihs.com. The agenda for the presentations and other updates on the event will be posted as they become available on http://www.ihs.com/events/ihs/southeastern-equador-licensing-paris-feb-2013.aspx

 

Additional technical information regarding the round is available directly from the Ecuadorian Ministry/SHE at www.she.gob.ec/portal/es/hidrocarburos/79.

 

Media Please Note: Limited seating is available at the road show presentations for credentialed members of the business and energy industry news media interested in covering the event, but all media must register in advance by contacting Melissa Manning at melissa.manning@ihs.com or +1 832-458-3840.Please send name, organization, phone, e-mail, and organization Web site.

 

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