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abstacey

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Ecuador news .. OIL output down a bit.

posted on Jun 12, 2008 02:40PM

Petroecuador trims output forecast

By Upstream staff

State-run Petroecuador has rejigged its output forecast for 2008, saying it plans to pump 62.3 million barrels of crude this year, about 5 million barrels less than its original forecast.

Production this year will average 170,224 barrels per day, down from the 183,962 bpd planned in January, a company statement quoted production subsidiary Petroproduccion vice president Camilo Delgado as saying.

A BNamericas report said that Petroecuador plans to drill 59 development, exploratoration and reinjection wells, according to a modified operations plan and budget released this week.

Separately, Petroecuador's Block 15 unit aims to produce 100,017bpd this year compared to the planned 106,981 bpd, block manager Wilson Pastor told BNamericas.