Background

Wayra Energy is an Ecuadorian oil operations company created in January of the year 2,018. In the year 2018 the Round "Oil & Gas 2018" was organized in which Wayra Energy was awarded two new mature fields, Oso and Yuralpa.

October 05, 2018, The Ecuadorian Government, through Petroamazonas EP, signed on Friday, October 5, contracts that reach a private investment of 1,622 million dollars for the development of six fields in the provinces of Orellana, Napo and Sucumbíos. And Service provider for Oso and Yuralpa fields is Wayra Energy. The Contracts were subscribed under the modality of Specific Services Integrated with Financing of the contractor, for the execution of activities of drilling, reactivation and completion of wells and, construction and expansion of facilities required for the oil fields. The rates that Petroamazonas EP will pay the contractors for their services will be established according to the international WTI crude marker, with an average tariff of USD 18.41 considered for a WTI price of USD 60 per barrel.

The SINOPEC-WAYRA project is a comprehensive drilling and completion service project for 41 wells in the Yuralpa and Oso oil fields signed by Sinopec International Petroleum Service Corporation and Wayra Energy in 2019. Currently, the project has started.

Yuralpa field: located in Orellana. Its average daily incremental production will be 2,204 barrels during the 10 years of contract execution.

Oso field: located in Napo. Its average daily incremental production will be 4,886 barrels, during the 10 years of contract execution.

Wayra Energy: Operator

Expected workload: the activities of drilling, reactivation and completion of wells and, construction and expansion of facilities required for the oil fields.

Service provider for Oso and Yuralpa fields - Wayra Energy, is made up of companies:

VINCCLER, CA. Venezuelan investment and construction company, with more than 60 years of experience in various areas of construction of civil works such as: flow stations and oil platforms, refineries, dams, highways, electric transmission lines and railroads in Venezuela and Central America;

AROTEKH, CA is an oil services company incorporated in Venezuela in 2015.