The Business Year

Capacities in both hydrocarbon extraction and electricity generation are growing.

Santiago Pástor Morris

President, Ivanhoe Energy Ecuador

In the next few months, oil production will increase with new investments from the national oil company Petroamazonas EP, private oil companies, and oil services companies that are working in the mature fields. With the new investments, production will increase by a further 15,000 or more barrels per day (bbl/d).

Luciano Cepeda V.

General Manager, Coca Codo Sinclair EP

In Ecuador, Ivanhoe Energy is undertaking the appraisal and development of Block 20, which includes the Pungarayacu Field. The Pungarayacu Project is governed by a contract signed by Ivanhoe Energy Ecuador with Petroecuador and Petroproducción in October 2008. This is a 30-year specific services contract, extendable for up to 10 years.

Cai Runguo

Senior Adviser, Cai Runguo

Starting a major project like this is always difficult in any part of the country. In the case of Coca Codo, the most difficult part was reaching the critical areas of the project on an insufficient road system, such as the power plant, and the site of the tunnel boring work. This involved roads of 20 kilometers and 30 kilometers in length, respectively. Today, the project is advancing well. We have plenty of time because the tunnel doesn’t have to be finished until 1Q2015.

Octavio Scacco

General Manager, Dygoil

Sinohydro is the leading Chinese company within the hydro energy industry and, back in 2009, we started negotiations with the Ecuadorean authorities on the Coca-Codo Sinclair Hydroelectric Plant. Today, there are around 60 Chinese firms in the country, but Sinohydro was a pioneer in boost commercial ties between China and Ecuador.



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