PetroEcuador is planning to increase production from its Ishpingo-Tambococha-Tiputini (ITT) oilfields located in the Eastern Amazon Oriente Basin, with average production expected to reach 60,000 barrels per day (bbl/d) during 2021, S&P Global reported.

The 76% complete project, ITT, where the firm has drilled 168 wells has produced so far 59,471bbl/d through March.

Other Eight wells will be drilled in Tambococha in 2021, while 72 others will be drilled in Ishpingo in 2022. At the meantime, the company plans to install two drill rigs at Ishpingo, targeting production of 600-3,000 bbl/d in 2022. 

“We’re defining some budget parameters to continue the drill campaign in 2021 and then in 2022…We’ll continue to develop the block hand-in-hand with environmentally-responsible policies.” Gonzalo Maldonado, General Manager at PetroEcuador, said.