Asset report

Ecuador Oriente exploration basin

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Report summary

Ecuador's Oriente basin has seen a long history of exploration and international investment. However in 2011 the Ecuadorian Government forced the introduction of a new Service Contract based on a fixed fee per barrel of production in return for the contractor retaining responsibility for all costs. These fiscal terms offer little incentive for exploration as there is no upside available from higher prices or lower costs. Moreover at low oil prices contractors are at risk of receiving a lower fee per barrel produced.

What's included

This report contains

  • Document

    Ecuador Oriente.zip

    ZIP 2.66 MB

  • Document

    Ecuador Oriente exploration basin

    PDF 6.21 MB

  • Document

    Ecuador Oriente exploration basin

    ZIP 8.77 MB

Table of contents

  • Key facts
  • Summary and key issues
  • Location maps
  • Participation
  • Geology
  • Exploration
  • Reserves and resources
  • Development
  • Costs
  • Fiscal and regulatory
  • Economic analysis

Tables and charts

This report includes 35 images and tables including:

Images

  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook)
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Exploration and appraisal spend
  • Exploration spend per well an average well depth
  • TYP value creation, exploration spend and volume discovered
  • Outlook value creation, spend and YTF volume
  • Commerciality index
  • Drilling activity by well type
  • Cumulative exploration wells by play
  • Discoveries and success rates
  • Discoveries by license year and drilling year
  • Basin creaming curve
  • Cretaceous Heavy Oil
  • Development value of potential discoveries
  • Unit value of potential discoveries

Tables

  • Key play data
  • Assumptions
  • Key facts: Table 3
  • Summary of discovery and development costs
  • Geology: Table 1
  • Key basin data
  • Reserves and resources: Table 2
  • Top discoveries (2006-2015)
  • Forecast data by play (2016-2035)
  • Reserves and resources: Table 5
  • Cretaceous Heavy Oil
  • Typical fiscal terms
  • Full-cycle economic analysis
  • Cretaceous Heavy Oil
  • Economic analysis: Table 1
  • Cretaceous Heavy Oil
  • Average value of future discoveries and implied acreage value

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