LatAmOil: Emissions reduction may be a factor in Ecuador’s Intracampos 2 tenders

Ecuador’s Energy Minister Juan Carlos Bermeo has said that Quito may take carbon emissions reduction goals into account when selecting the winners of upcoming tenders for six onshore oil blocks.

More specifically, Bermeo said, Ecuador may give extra consideration to offers from investors that offer access to technologies that help shrink the country’s carbon footprint. “I am in favour of putting a rating score on the company that offers me the best technology to avoid emissions,” he explained.

He declined to say, though, what kind of ratings system Quito might use in the upcoming Intracampos 2 round, which covers six blocks in the north-eastern part of the country, near the border with Colombia. The matter “is not defined yet,” he explained.

The sites in question contain about 611mn barrels of oil in place (OIP), including around 107mn barrels of recoverable heavy and medium crude. They are expected to yield around 22,000-28,000 barrels per day (bpd).