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2025-01-29 06:35:00

ECUADOR NEED INVESTMENT $42 BLN

ECUADOR NEED INVESTMENT $42 BLN

ENERDATA24 January 2025 - The Ecuadorian Ministry of Energy and Mines has announced a US$42bn investment plan to boost oil production, natural gas and the country's energy infrastructure over the 2025-2029 period.

The Hydrocarbons Sector Investment Plan 2025-2029 forecasts an increase in oil production, thanks to the addition of over 336 kb/d from Intracampos and offshore blocks. It also plans the development of strategic oil and gas infrastructure, including the expansion of the La Libertad High Conversion Refinery to add 75 kb/d of new capacity. At the same time, the plan aims to encourage the use of clean technologies to reduce environmental impact and promote energy efficiency.

Ecuador has proven oil reserves of 1,126 Mt (3rd largest in South America), and proven gas reserves of 9.1 bcm (end of 2023).

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