Ecuador Oil and Gas Midstream Market 2021 Business Scenario – Eni SpA, OCP Ecuador, Techint International Construction Corp, Sycar LLC
The oil and gas midstream market in Ecuador is expected to grow at a CAGR of more than 1.03% during the forecast period of 2020 - 2025.
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Top Leading Companies of Ecuador Oil and Gas Midstream Market are Eni SpA, OCP Ecuador, Techint International Construction Corp, Sycar LLC, Occidental Petroleum Corporation and others.
Industry News and Updates
In August 2018, the mining and energy ministries were merged into Hydrocarbons Ministry. One of the focus of this ministry is to offer the blocks for bidding to increase the private sector investments.
- In September 2018, the ministry carried out the bidding rounds and by April 2019, seven blocks in Sucumbios province were awarded to private sector companies for exploration, where these companies are committed to drill cumulatively 27 exploration wells.
Also, in order to freely produce oil to fullest potential, the government of Ecuador opted out of the OPEC in January 2020 making the country a more attractive destination for the investments. The OPEC has put restriction regarding the oil production on its member states.
Key Market Trends
Transportation Sector to Witness Growth
- Ecuador exported 10,609.923 b/d of crude oil in 2018. Crude oil is Ecuador's top export commodity, accounting for about 33% of Ecuador's export revenue in 2018. Ecuador was the third-largest source of foreign oil for the United States, Canada, etc.
- The government is encouraging the exploration & production activity in new blocks. On September 2018, the government presented 7 new blocks for exploration and production activity in the Sucumbios province for bidding.
- The projects were awarded to Petrozamora S.A., Grand Tierra Energy LLC, and Frontera-Geopark. As part of these projects, cumulatively, these companies are committed to drilling 27 exploration wells.
- Thus, these new field is likely to increase the oil and gas capacity of the country. Which in turn is expected to require strong mode of transportation for crude oil. Thus, this is expected to increase the market for transportation sector in the country.
Regional Outlook of Ecuador Oil and Gas Midstream Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Ecuador Oil and Gas Midstream Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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