LatinNews Daily - 12 July 2023

In brief: Ecuador prepares bidding for oil blocks

*Ecuador’s energy & mining ministry is preparing the bidding process for oil blocks 16 and 67 that were returned to the State at the end of last year by a subsidiary of Canadian oil firm New Stratus Energy after the contracts expired. Ecuador’s state oil company Petroecuador is temporarily operating the blocks, which are located in Orellana province. According to a statement by the energy & mining ministry, the blocks can produce up to 15,000 barrels per day (bpd) but are currently producing around 10,000bpd. The statement says that the area is “very promising” adding that “incremental production is expected” after investments are made.

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