Ecuador announces tender for $ 500 mm oil pipeline and storage facility

Jan 27, 1997 01:00 AM

Ecuador announced a public tender for the construction of a $ 500 mm, 514-kilometre crude oil pipeline. The terms of the tender will be released February 3 and offers will be received until April 7 from bidders previously approved by the Ministry of Energy and Mining, the government said. The pipeline will transport 462,000 bpd from the Amazon region and the winner of the tender, to be awarded in May, will also be required to build storage facilities for 2.75 million barrels in two different sites. Fifty percent of Ecuador's state budget is currently generated through oil sales. But for transport of crude, the country now depends entirely on a Colombian oil pipeline which is constantly paralysed by guerrilla warfare. Energy Minister Alfredo Adum last week said 17 companies had expressed an interest in building the pipeline.

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