RIO DE JANEIRO, BRAZIL – The President of Ecuador, Guillermo Lasso, announced on Wednesday, January 19, a new oil and gas discovery in the Amazonian province of Sucumbíos, in the northeast of the country.
According to the President, the discovery was made in the Perico block, specifically in the Jandaya-1 exploration well.
“It has been more than six years since there were new successful discoveries in the country. This is great news for Ecuador, a product of 100% private investment”, said Lasso.
The President informed that, according to initial estimates, this discovery would increase national production by 925 barrels of oil per day.
The discovery was made by the Canadian company Frontera Energy, which operates the Jandaya-1 well.
The company’s CEO, Orlando Cabrales, said that this is the first well that the firm operates in the South American country. It is also the first to be drilled on the surface awarded during Ecuador’s 2019 intra-field bidding.
“We anticipate putting the well on a long-term test in February 2022; once permits are obtained. We are optimistic that the Jandaya-1 well represents the first of many near-field opportunities already identified in the Perico block,” Cabrales noted.
The Canadian company also expects to drill the Tui-1 exploration well in the southern part of the Perico block, approximately six kilometers from the Jandaya-1, in February 2022.