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Ivanhoe Energy to develop heavy oil in Amazon Basin

  • Ivanhoe Energy (IVAN +2.7%) confirms it will take part in a consortium to develop heavy oil at Block 20, located in Ecuador's Amazon basin.
  • IVAN says it reached agreement with Ecuador's government to terminate the contract under which it has been operating as a step toward entering into a new service contract with a consortium consisting of IVAN and one of the world's largest national oil companies, which has experience working in Ecuador.
  • The Pungarayacu oil field, which includes Block 20, contains ~4.5B barrels of heavy crude.
Comments (1)
  • Herb235
    , contributor
    Comment (1) | Send Message
     
    IVAN needs to just shutter its doors and stop the charade.

     

    Herb
    27 Aug, 12:51 PM Reply Like
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