Fast Market Research recommends "Ecuador Oil & Gas Report Q3 2014" from Business Monitor International, now available

Boston, MA -- (ReleaseWire) -- 06/03/2014 --BMI View: Ecuador faces considerable above-ground challenges in r amping up its crude production, such that we forecast growth will remain moderate over the coming years. In the short term, we expect increased output from state-owned Petroamazonas, though with production from acreage owned by the pr ivate sector likely to stagnate this will temper gains. Over the longer term, the government's decision to open Yasuni National Park to drilling, and potential for an uptick in output from the Pungarayacu heavy oil field pose significant upside risk to our 20 19 -2023 production forecast . However, we have not factored this in given fierce local opposition and an uncertain production timeline.

The key trends and developments in Ecuador's oil and gas sector are:

- Oil production will grow through 2018, but gains will be incremental, offset by natural depreciation rates at the country's mature fields. Moreover, a poor above ground environment, including unattractive contract terms and an uncertain regulatory environment, acts as a significant deterrent to greater foreign investment.
- While at present we are holding on to our bearish forecast for long-term production, recent events suggest that the risks lie to the upside. Namely, the Ecuadorian government has authorised drilling in the country's Ishpingo Tambococha Tiputini (ITT) complex. Previously exploitation of the field had been prohibited as it sits in the Amazon rainforest. However, after the failure of the government's scheme, meant to raise funding from the international community to offset the cost of not producing hydrocarbons in the Amazon, legislators have given the go ahead to begin development of ITT. A recent push for a national referendum on the subject suggests some uncertainty about the project going ahead, such that we have yet to factor in oil production from this field. We note though, that with peak output at over 200,000b/d, if this field is brought online, it could...

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The Ecuador Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Ecuador including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Ecuador Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Ecuadorian oil and gas industry.

Key Benefits

- Benchmark BMI's independent oil and gas industry forecasts for Ecuador to test consensus views - a key input for successful budgeting and strategic business planning in the Ecuadorian oil and gas market.

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