Project Profile
Location: Province of Santa Elena, Ecuador
Area: 296,500 acres
Start-up Year: -
The Santa Elena block covers an area of 296,500 acres and has been developed in only part of its onshore sector, with about 2,900 mainly shallow wells. Roughly 2/3 of the onshore sector is still undeveloped, since further exploration was suspended after gas was encountered. Virtually all of the shallow offshore part over 40% of the whole block awaits exploration, since no marine geophysical surveying has been done, and the only drilling to date was three low-angle directional wells from the beach. Two of the wells found oil in Paleogene sandstones; one of these was abandoned for mechanical problems, but the other produced for several months. BPZ considers that the unexplored areas, both onshore and offshore, have highly attractive potential. BPZ Energy operates and holds the block.
Operator:
BPZ Energy: Operator with 100% interest (filed for bankruptcy in March 2015)