Ecuador to expand March offer, up output

Ecuador

QUITO, February 28, 2018 – Ecuador will add four mature onshore oilfields and the Amistad offshore gasfield to an auction scheduled for March, international media reported on Tuesday.

The country is also in talks with OPEC to increase its production this year despite global production cuts led by OPEC, Reuters added in a report.

“Ecuador’s production is marginal in the OPEC context,” Ecuador’s hydrocarbons minister Carlos Perez told Reuters. “It is a commitment with them to maintain OPEC’s unity. We talked about it during the OPEC secretary-general’s visit [earlier this month]; they are giving Ecuador flexibility.”