This milestone will enable the state-owned company to increase its hydrocarbon production in that country, where it has been present since 2003.
Enap announced an important milestone in its operations in Ecuador. The company has been present in the country since 2003. This milestone is the successful completion of the exploratory process at the Pambil A-1 Well, located at the southern end of Block 47 in the province of Orellana, in the eastern side of the country, in the Ecuadorian Amazon.
This finding has the potential for Enap to increase its oil production in Ecuador, where it produces about 30,000 barrels per day, and is one of the most important foreign companies in that territory. The exploration process in this region began in 2023 with the granting of permits. It is part of a larger plan covering different blocks, within the framework of Enap's program to expand oil reserves in that country.
Currently, the company is present in Ecuador through its 100% stake in the Mauro Dávalos Cordero (MDC), Paraíso Biguno Huachito (PBH), and Intracampos oil production blocks, operating under a service contract. As of September this year, Enap had achieved cumulative production of 140 million barrels since it began operating in Ecuador in 2003, enabling it to achieve a net cash flow in its favor—the sum of all dividend remittances minus cash flows sent to that country—equivalent to US$473 million.
“The development of operations outside Chile is part of our Enap 2040 strategy, one of the pillars of which is to accelerate new sources of income. Strongly promoting this type of project is consistent with the challenge we have stated in recent years, which is to have a company that is sustainable over time and meets the highest industry standards,” as stated by Enap’s general manager, Julio Friedmann.
The Pambil A-1 exploratory well is the first of its kind drilled in the area near the structure known as Culebra-Yulebra. In addition, it opens the door to a new hydrocarbon development area in that country. The next step, once production results are obtained, involves the preparation of a Field Development Plan by Enap, which must then be reviewed and approved by Ecuador's Ministry of Environment and Energy.
Enap is one of 14 private companies operating in that country, in November of this year it received recognition for achieving first place in Private Contribution to National Production, awarded by the country's Ministry of Environment and Energy.