Country Report
Ecuador upstream summary
Report summary
We have completed a full update of our Ecuador coverage with robust quality checks for historical production, drilling schedules, reserves and investment commitments at the field, company and country levels. This update includes a detailed review of each asset's production profile and drilling activity. We based our production profiles on reported 2P reserves by PetroEcuador and AIHE (Asociación de la Industria Hidrocarburífera del Ecuador) and used statistical analysis to ...
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- Petroamazonas and Petroecuador
- Consortiums with service companies
- International oil companies
- Newcomers
-
Geology
- Introduction
- Oriente basin
-
Stratigraphy
- The Hollin formation
- The Napo formation
- The Tena formation
-
Petroleum system
- Reservoir rocks
- Source rocks
- Seals
- Coastal basins
- Stratigraphy
-
Exploration
- Licensing
- Intracampos Round
- Suroriente Round
- Marginal fields licensing
-
Mature fields licensing
- Incremental production projects
- Central fields round
- Strategic operating alliances
- Petroamazonas mature fields integrated service contracts
-
Drilling
- Drilling activity
- Exploration in coastal areas
- Exploration in the Oriente basin
-
Reserves and resources
- Liquids
- Sales gas
-
Production
-
Liquids
- Future liquids production
- Historical liquids production
- Gas
-
Liquids
-
Infrastructure
- Oil infrastructure
-
Domestic pipelines
- Sistema Oleoducto Transecuatoriano (SOTE)
- Oleoducto de Crudos Pesados (OCP)
- International pipelines
-
Oil refineries
- Refineria del Pacifico cancelled
-
Gas infrastructure
- LPG Pipeline
-
Policy and regulation
- Key legislation
- Regulatory body
- State oil company
- State participation
-
Fiscal terms
- Overview
- Upstream
- Midstream
- Current fiscal terms
-
Production sharing contract (Contrato de participación)
- Basis
- Government equity participation
- Fiscal terms
- Bonuses, rentals and fees
- Royalty
- PSC production sharing
- Environmental tax (ECORAE)
- Substitutive tax (Ley 40)
- Labour participation tax
- Corporate income tax
- Fiscal treatment of decommissioning costs
- Product pricing
- Summary of modelled terms
- Sample cash flow
-
Service contract
- Basis
- Government equity participation
- Fiscal terms
- Bonuses, rentals and fees
- Royalty (Levies)
- Service fee
- Contributions
- Technology tax
- Labour participation tax
- Corporate income tax
- Fiscal treatment of decommissioning costs
- Product pricing
- Summary of modelled terms
-
Sample cash flow
- Methodology
- Active legacy terms
-
Service contract
- Service fee
- Historical background
-
Historical tax rates
- Corporate income tax
- Environmental tax
- Association contract (2004)
- Marginal field contract (1993)
-
Participation contract (1993)
- Bonuses, rentals and fees
- Production taxes
- Cost recovery
- Profit oil
- Additional profits taxes
- Corporate income tax
- Indirect taxes
- Fiscal or Contractual ring-fences
- Dividend withholding tax
- Other taxes
- Product pricing
-
Service contract (1982)
- Bonuses, rentals and fees
- Production taxes
- Indirect taxes
- Service fee
- Corporate income tax
- Association contract (1971)
- Concession contract (1937)
Tables and charts
This report includes 41 images and tables including:
- Key facts: Table 1
- Country Map
- Reserves and contingent resources at 01/01/2024
- Liquids and Gas Production 2021
- Net Acreage 2024
- Exploration: Table 1
- Exploration: Table 2
- Exploration Drilling
- Reserves and resources: Table 1
- Production: Table 3
- Production: Table 4
- Gas Production
- Fiscal terms: Table 6
- Fiscal terms: Table 11
- Fiscal terms: Table 15
- Oriente Basin Stratigraphic Column
- Exploration: Table 3
- Production: Table 1
- Production: Table 2
- Liquids Production
- Infrastructure: Table 1
- Infrastructure: Table 2
- Infrastructure: Table 3
- Infrastructure Map
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
- Fiscal terms: Table 5
- Fiscal terms: Table 7
- Fiscal terms: Table 8
- Fiscal terms: Table 9
- Fiscal terms: Table 10
- Fiscal terms: Table 12
- Fiscal terms: Table 13
- Fiscal terms: Table 14
- Fiscal terms: Table 16
- Fiscal terms: Table 17
- Fiscal terms: Table 18
- Fiscal terms: Table 19
- Fiscal terms: Table 20
What's included
This report contains:
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