Petroecuador expects increase in income from SOTE pipeline

Aug 03, 2000 02:00 AM

Ecuador's Petroecuador expects an increase in income of $ 534 mm per year as a result of the extension of the Trans-Ecuadorian Pipeline (SOTE), completed at the end of July, reported the state oil company. The SOTE now has a maximum transport capacity of 390,000 bpd, compared with 330,000 bpd before the extension. The state oil company made the estimations based on an average oil price of $ 25.00 per barrel, the press release stated.
Petroecuador, Arco, and Repsol-YPF financed the $ 50 mm extension that increased transport capacity via new pumping stations. The SOTE, build in 1972, stretches 500 km from Lago Agrio in the Amazon region to the province of Esmeraldas on the northern coast of the country.
Ecuador also transports 45,000 bpd via the Colombian Trans-Andean Pipeline (OTA). Ecuador produced 11.2 mm barrels of crude in June, up 0.9 % compared with 11.1 mm in June 1999.

Source: Bridge News via Newspage
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