Petroecuador says crude oil output surpasses 400,000 bpd
(Reuters) - Ecuador's state oil company Petroecuador said that crude oil output surpassed 400,000 bpd for the first time since January 2021.
The increase in production comes as new President Daniel Noboa faces a deep economic crisis that's pushed thousands to migrate.
In a statement, Petroecuador said crude oil production reached 401,852 barrels while barrels of oil equivalent reached 411,873 including natural gas and associated gas.
The company said the Sacha oilfield was its most productive with 78,259 barrels.
Another key oilfield Auca saw production at 77,512 bpd while the zone comprising Apaika, Eden and ITT reached 99,852 bpd.
In a separate press release on Sunday, Petroecuador said it had contained an oil spill that affected the Shushufindi river in the Sucumbios province in Ecuador's northeastern Amazon region.
The company said it had begun cleaning operations but did not say how much oil had been spilled. It added that while the cause was still under investigation, the spill could have been related to pitting in a pipeline.
In November, Petroecuador said it will shut down a large drilling project in the Yasuni ecological reserve in the Amazon rainforest in August 2024, following a referendum to end it to protect nature and indigenous people.
The company estimates that lost revenue from the project due to the looming suspension will likely total about $680 MM next year.