Petroecuador calls $ 500 mm Amazon pipeline tender

Jan 23, 1997 01:00 AM

Ecuador's state oil company Petroecuador will launch a tender for a new oil pipeline from the Amazon next week, Energy and Mining Minister Alfredo Adum said. The bid results are expected to be announced in May Government officials expect the pipeline to cost $ 500 mm and say its main users will be companies operating in the east of the Andean country. Adum said 17 foreign companies had already expressed interest in building the pipeline, as well as other projects. Petroecuador pumps about 340,000 bpd through the Transecuatoriano pipeline and another 50,000 bpd through the Transandino pipeline. It also depends heavily on Colombian pipelines for exports, which makes it vulnerable to problems with guerrilla attacks in the neighbouring country. Ecuador depends for 50 % of the national budget on oil sales.

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