Table of Contents
1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Ecuador Energy Sector 11
2.1 Ecuador Energy Sector, Market Overview
11
2.2 Ecuador Energy Sector, Crude Oil 12
2.2.1 Ecuador Crude Oil,
Overview 12
2.2.2 Ecuador Crude Oil, Supply and Demand Balance 12
2.2.3 Ecuador Crude Oil, Regulatory Structure 18
2.2.4 Ecuador Crude Oil,
Infrastructure 19
3 Ecuador Fiscal Regime 21
3.1 Ecuador Petroleum
Fiscal Environment 21
3.2 License Terms 21
3.3 Key Fiscal Terms 22
3.4 Sample Cashflows Calculations 24
4 Ecuador Oil Upstream Investment
Environment Benchmarking 25
4.1 Introduction 25
4.2 The Overall
Ranking 25
4.3 Upstream Fiscal Attractiveness 26
4.3.1 Maximum
Government Take Index 27
4.3.2 Maximum State Participation Index 27
4.3.3 Domestic Market Obligation Index 27
4.4 Oil Sector Performance
28
4.4.1 Exploration Activity 30
4.4.2 Oil Production 31
4.4.3 Oil
Reserves 31
4.4.4 Oil Consumption 32
4.4.5 Refining Industry 32
4.5 Economic Performance 32
4.5.1 GDP Growth Index 34
4.5.2 FDI
Confidence Index 34
4.5.3 Balance of Trade Index 35
4.6
Socio-Political Performance 35
4.6.1 Democracy Index 37
4.6.2
Governance Index 37
5 Ecuador Exploration and Production Sector 38
5.1
Ecuador Exploration and Production Sector, Country Snapshot 38
5.1.1
Ecuador Exploration and Production Sector, Key Data 38
5.1.2 Ecuador
Exploration and Production Sector, Crude Oil Assets Map 38
5.2 Ecuador
Exploration and Production Sector, Gross Crude Oil Production 39
5.2.1
Ecuador Exploration and Production Sector, Gross Crude Oil-Historical
Production 39
5.2.2 Ecuador Exploration and Production Sector, Gross Crude
Oil Production by Assets 40
5.2.3 Ecuador Exploration and Production
Sector, Gross Equity Weighted Crude Oil Production by Company 42
5.2.4
Ecuador Exploration and Production Sector, Market Share (%) based on Gross
Equity Weighted Crude Oil Production 44
5.3 Ecuador Exploration and
Production Sector, Gross Crude Oil Forecasts 46
5.3.1 Ecuador Exploration
and Production Sector, Gross Crude Oil Forecasted Production 46
5.4
Ecuador Exploration And Production Sector, Crude Oil Asset Details 48
5.4.1 Ecuador Exploration And Production Sector, Active Crude Oil Asset
Details 48
5.4.2 Ecuador Exploration And Production Sector, Planned Crude
Oil Asset Details 51
6 Ecuador Pipeline Sector 52
6.1 Ecuador Pipeline
Sector, Key Data 52
6.2 Ecuador Pipeline Sector, An Overview 52
6.3
Ecuador Pipeline Sector, Comparision of Key Crude Oil Pipeline Companies
53
6.4 Ecuador Pipeline Sector, Comparision of Key Petroleum Product
Pipeline Companies 54
6.5 Ecuador Pipeline Sector, Crude Oil Pipelines
54
6.6 Ecuador Pipeline Sector, Petroleum Product Pipelines 55
7
Ecuador Refining Sector 56
7.1 Ecuador Refining Sector, Key Data 56
7.2 Ecuador Refining Sector, An Overview 56
7.2.1 Ecuador Refining Sector,
Total Refining Capacity 56
7.3 Ecuador Refining Sector, Capacity- Wise
Market Share by Company 57
7.4 Ecuador Refining Sector, Crude Distillation
Unit Capacity 58
7.5 Ecuador Refining Sector, Fluid Catalytic Cracking
Capacity 58
8 Ecuador Oil and Chemicals Storage Sector 59
8.1 Ecuador
Oil and Chemicals Storage Sector, Key Data 59
8.2 Ecuador Oil and
Chemicals Storage Sector, An Overview 59
8.2.1 Ecuador Oil and Chemicals
Storage Sector, Total Storage Capacity 59
8.3 Ecuador Oil and Chemicals
Storage Sector, Capacity- Wise Market Share by Company 60
8.4 Ecuador Oil
and Chemicals Storage Sector, Storage Capacity 62
9 Profile of
PetroEcuador 63
9.1 PetroEcuador, Key Information 63
9.2 PetroEcuador,
Company Overview 63
9.3 PetroEcuador, Business Description 63
9.3.1
PetroEcuador, Business Description, Business Overview 63
9.3.2
PetroEcuador, Business Description, Major Products and Services 64
9.4
PetroEcuador, SWOT Analysis 65
9.4.1 PetroEcuador, SWOT Analysis, Overview
65
9.4.2 PetroEcuador, SWOT Analysis, Strengths 65
9.4.3 PetroEcuador,
SWOT Analysis, Weaknesses 66
9.4.4 PetroEcuador, SWOT Analysis,
Opportunities 67
9.4.5 PetroEcuador, SWOT Analysis, Threats 67
10
Profile of Repsol YPF, S.A 69
10.1 Repsol YPF, S.A, Key Information 69
10.2 Repsol YPF, S.A, Company Overview 69
10.3 Repsol YPF, S.A, Business
Description 69
10.3.1 Repsol YPF, S.A, Business Description, Business
Overview 69
10.3.2 Repsol YPF, S.A, Business Description, Chemicals
Segment 70
10.3.3 Repsol YPF, S.A, Business Description, Exploration and
Production Segment 71
10.3.4 Repsol YPF, S.A, Business Description, Gas
and Power Segment 73
10.3.5 Repsol YPF, S.A, Business Description,
Refining and Marketing Segment 74
10.3.6 Repsol YPF, S.A, Business
Description, Major Products and Services 75
10.4 Repsol YPF, S.A, Value
Chain Analysis 77
10.4.1 Repsol YPF, S.A, Value Chain Analysis, Upstream
77
10.4.2 Repsol YPF, S.A, Value Chain Analysis, Midstream 78
10.4.3
Repsol YPF, S.A, Value Chain Analysis, Downstream 79
10.4.4 Repsol YPF,
S.A, Value Chain Analysis, Retail 79
10.5 Repsol YPF, S.A, SWOT Analysis
80
10.5.1 Repsol YPF, S.A, SWOT Analysis, Overview 80
10.5.2 Repsol
YPF, S.A, SWOT Analysis, Strengths 81
10.5.3 Repsol YPF, S.A, SWOT
Analysis, Weaknesses 82
10.5.4 Repsol YPF, S.A, SWOT Analysis,
Opportunities 82
10.5.5 Repsol YPF, S.A, SWOT Analysis, Threats 84
10.6 Repsol YPF, S.A, Revenue Analysis 85
10.6.1 Repsol YPF, S.A, Revenue
by Segment 85
10.6.2 Repsol YPF, S.A, Revenue by Geography 86
10.7
Repsol YPF, S.A, Financial and Operational Review 87
10.7.1 Financial
Statements 87
10.7.2 Financial Ratios 88
11 Profile Of Eni S.p.A.
89
11.1 Eni S.p.A., Key Facts 89
11.2 Eni S.p.A., Company Overview
89
11.3 Eni S.p.A., Business Description 89
11.3.1 Eni S.p.A.,
Business Description, Business Overview 89
11.3.2 Eni S.p.A., Business
Description, Engineering and Construction 90
11.3.3 Eni S.p.A., Business
Description, Exploration & Production 91
11.3.4 Eni S.p.A., Business
Description, Gas & Power 92
11.3.5 Eni S.p.A., Business Description,
Others 94
11.3.6 Eni S.p.A., Business Description, Petrochemicals 94
11.3.7 Eni S.p.A., Business Description, Refining and Marketing 95
11.4
Eni S.p.A., Value Chain Analysis 97
11.4.1 Eni S.p.A., Value Chain
Analysis, Upstream 97
11.4.2 Eni S.p.A., Value Chain Analysis, Midstream
98
11.4.3 Eni S.p.A., Value Chain Analysis, Downstream 99
11.4.4 Eni
S.p.A., Value Chain Analysis, Retail 100
11.5 Eni S.p.A., SWOT Analysis
100
11.5.1 Eni S.p.A., SWOT Analysis, Overview 100
11.5.2 Eni S.p.A.,
SWOT Analysis, Strengths 101
11.5.3 Eni S.p.A., SWOT Analysis, Weaknesses
103
11.5.4 Eni S.p.A., SWOT Analysis, Opportunities 104
11.5.5 Eni
S.p.A., SWOT Analysis, Threats 105
11.6 Eni S.p.A., Revenue Analysis
107
11.6.1 Eni S.p.A., Revenue by Segment 107
11.6.2 Eni S.p.A.,
Revenue by Geography 108
11.7 Eni S.p.A., Financial and Operational Review
110
11.7.1 Financial Statements 110
11.7.2 Financial Ratios 111
12
Financial Deals Landscape 112
12.1 Detailed Deal Summary 112
12.1.1
Partnerships 112
12.1.2 Asset Transactions 113
13 Recent Developments
115
13.1 License Awards 115
13.1.1 Nov 06, 2008: Repsol Signs
Preliminary Agreement With Ecuador 115
13.1.2 Oct 20, 2008: Petrobras And
Ecuador Extend Agreement 116
13.1.3 Jul 22, 2008: OVL Gears Up To Bid For
Ecuador Blocks 116
13.2 Strategy and Business Expansion 117
13.2.1 Nov
03, 2008: Repsol Plans Talks With Ecuador To Save Its Oil Contract In The
Nation 117
13.2.2 Oct 31, 2008: PESA Signs Modification Agreements With
Ecuador 118
13.2.3 Aug 19, 2008: Ivanhoe In Discussions With
Ecuador’s National Oil Company On Development Of Pungarayacu Oil Field
118
13.3 Recent Discoveries 119
13.3.1 Mar 23, 2009: Petroecuador
Discovers Oil Field At Amazonian Province Of Sucumbios In Ecuador 119
13.4
Drilling and Production Updates 119
13.4.1 Dec 27, 2008: Ecuador To
Suspend Oil Production And Decrease Quotas 119
13.4.2 Jul 17, 2008: PDVSA
Drills Three Wells In Ecuador 119
13.5 Other Significant Developments
120
13.5.1 Apr 03, 2009: Petroecuador Invites Companies To Develop Three
Oilfields In Amazonas Region 120
13.5.2 Mar 31, 2009: Petroamazonas Plans
To Drill Four Oil Blocks In Ecuador 120
13.5.3 Mar 27, 2009: Ecuador To
Decrease Oil Output By 8% Under OPEC Quotas 121
13.5.4 Mar 13, 2009:
Repsol To Invest $174 Million In Ecuador 122
13.5.5 Mar 04, 2009:
Perenco' s 70% Oil Output To Be Seized By Ecuador 122
13.6 New Contracts
Announcements 122
13.6.1 Mar 26, 2009: CB&I Receives $50 Million Contract
From Flota Petrolera 122
13.6.2 Aug 09, 2008: Repsol And Ecuador To
Negotiate New Oil Contract 123
13.6.3 Aug 07, 2008: Petrobras Agrees To
New Service Contract With Ecuador 123
14 Appendix 124
14.1 Methodology
124
14.1.1 Coverage 125
14.1.2 Secondary Research 126
14.1.3
Primary Research 126
14.1.4 E&P Forecasts 126
14.1.5 Midstream
Forecasts 128
14.1.6 Expert Panel Validation 128
14.2 Contact Us
128
14.3 About GlobalData 129
14.4 Disclaimer 129
1.1 List of
Tables
Table 1: Ecuador, Historical and Forecasted Production and
Consumption of Crude Oil, 1996-2020 13
Table 2: Ecuador, Historical and
Forecasted Exports of Crude Oil, 1996-2020 15
Table 3: Ecuador,
Historical Reserves of Crude Oil, 1996-2008 17
Table 4: Ecuador,
Depreciation Rate For Fixed Asset, 2007 23
Table 5: South and Central
America, Investment Benchmarking, Overall Country Rankings, 2008 25
Table
6: South and Central America, Investment Benchmarking, Upstream Fiscal
Attractiveness, 2008 26
Table 7: South and Central America, Investment
Benchmarking, Oil Sector Performance, 2008 28
Table 8: South and Central
America, Investment Benchmarking, Economic Performance, 2008 33
Table 9:
South and Central America, Country Standings, Economic Performance, 2008
33
Table 10: South and Central America, Investment Benchmarking,
Socio-Political Performance, 2008 35
Table 11: South and Central America,
Country Standings, Socio-Political Performance, 2008 36
Table 12: Ecuador,
Crude Oil Key Statistics, 2008 38
Table 13: Ecuador, Total Gross Crude Oil
Production (MMBBLs), 2001-2008 39
Table 14: Ecuador, Gross Crude Oil
Production (MMBBLs), by Assets, 2001-2008 40
Table 15: Ecuador, Gross
Equity Weighted Crude Oil Production (MMBBLs), by Company, 2001-2008 42
Table 16: Ecuador, Market Share (%) based on Gross Equity Weighted Crude Oil
Production, 2001-2008 44
Table 17: Ecuador, Gross Crude Oil Production
(MMBBLs), Forecast by Assets, 2009-2014 46
Table 18: Ecuador, Gross Crude
Oil Production (MMBBLs), Forecast by Assets, 2009-2014
(contd — ) 47
Table 19: Ecuador, Active Oil Field Assets
Details 48
Table 20: Ecuador, Active Oil Field Assets Details (Contd.)
49
Table 21: Ecuador, Active Oil Field Assets Details (Contd.) 50
Table 22: Ecuador, Planned Oil Field Assets Details 51
Table 23: Ecuador,
Pipeline Key Statistics, 2008 52
Table 24: Ecuador, Crude Oil Pipeline
Length by Company (Km), 2008 53
Table 25: Ecuador, Petroleum Product
Pipeline Length by Company (Km), 2008 54
Table 26: Ecuador, Crude Oil
Pipelines, 2008 54
Table 27: Ecuador, Petroleum Products Pipelines, 2008
55
Table 28: Ecuador, Refinery Key Statistics, 2008 56
Table 29:
Ecuador, Total Refining Capacity (MMTPA), 2000- 2013 56
Table 30: Ecuador,
Refining Capacity-Wise Market Share By Company 57
Table 31: Ecuador, Crude
Distillation Unit Capacity (MMTPA), 2000-2013 58
Table 32: Ecuador, Fluid
Catalytic Cracking Unit Capacity (MMTPA), 2000-2013 58
Table 33: Ecuador,
Oil Storage Key Statistics, 2008 59
Table 34: Ecuador, Total Oil and
Chemicals Storage Capacity (Thousand M3), 2000- 2013 59
Table 35: Ecuador,
Oil and Chemicals Storage Capacity Company-wise (Thousand M3), 2000-2013
60
Table 36: Ecuador, Oil and Chemicals Storage Capacity (Thousand M3),
2000-2013 62
Table 37: PetroEcuador, Key Facts 63
Table 38:
PetroEcuador, SWOT Analysis 65
Table 39: Repsol YPF, S.A., Key Facts
69
Table 40: Repsol YPF, S.A., SWOT Analysis 80
Table 41:
Repsol YPF, S.A., Revenue by Segment, Euro Million, 2003-2007 86
Table 42:
Repsol YPF, S.A., Revenue by Geography, Euro Million, 2003-2007 86
Table 43: Repsol YPF, S.A., Financial Statements, Euro Million, 2003-2007
87
Table 44: Repsol YPF, S.A., Financial Ratios, Euro Million,
2003-2007 88
Table 45: Eni S.p.A., Key Facts 89
Table 46: Eni
S.p.A., SWOT Analysis 101
Table 47: Eni S.p.A., Revenue by Segment,
Euro Million, 2003-2007 108
Table 48: Eni S.p.A., Revenue by
Geography, Euro Million, 2003-2007 109
Table 49: Eni S.p.A.,
Financial Statements, Euro Million, 2003-2007 110
Table 50: Eni
S.p.A., Financial Ratios, Euro Million, 2003-2007 111
Table 51:
Petroecuador Forms A Joint Venture With PDVSA 112
Table 52: Murphy Oil
Sells Oil Producing Properties In Ecuador To Repsol YPF Ecuador 113
Table
53: Inpex To Acquire 40% Stake In Block 18 In Ecuador 114
1.2 List of Figures
Figure 1: Ecuador, Energy Sector break-up, 2008 11
Figure 2: Ecuador, Crude Oil Production And Consumption, Thousand Barrels Per
Day, 1996-2020 14
Figure 3: Ecuador, Crude Oil Exports, Thousand Barrels
Per Day, 1996-2020 16
Figure 4: Ecuador, Crude Oil Reserves, Million
Barrels, 1996-2008 18
Figure 5: Ecuador, Upstream Oil & Gas Fiscal Regime
(PSA), Sample Cashflows, 2005-2016 24
Figure 6: South and Central America,
Country Standings, Upstream Fiscal Attractiveness, 2008 27
Figure 7: South
and Central America, Country Standings, Oil Sector Performance, by
Reserves-Exploration & Production, 2008 29
Figure 8: South and Central
America, Country Standings, Oil Sector Performance, by Production-Consumption
& Refining, 2008 30
Figure 9: South and Central America, Country
Standings, Exploration Blocks Awarded, 2008 31
Figure 10: South and
Central America, Country Standings, Economic Performance, 2008 34
Figure
11: South and Central America, Country Standings, Socio-Political Performance,
2008 36
Figure 12: Ecuador, Crude Oil Assets Map, 2008 38
Figure 13:
Ecuador, Total Gross Crude Oil Production (MMBBLs), 2001-2008 39
Figure
14: Ecuador, Gross Equity Weighted Crude Oil Production (MMBBLs), by Company,
2001-2008 43
Figure 15: Ecuador, Market Share (%) based on Gross Equity
Weighted Crude Oil Production, 2008 45
Figure 16: Ecuador, Crude Oil
Pipeline Length By Company (Km), 2008 53
Figure 17: Ecuador, Total
Refining Capacity (MMTPA), 2000- 2013 57
Figure 18: Ecuador, Total Oil
and Chemicals Storage Capacity (Thousand M3), 2000- 2013 60
Figure 19:
Ecuador, Oil and Chemicals Storage Capacity Company-wise (Thousand M3),
2000-2013 61
Figure 20: Repsol YPF, S.A., Value Chain Analysis 77
Figure 21: Eni S.p.A., Value Chain Analysis 97
Figure 22: GlobalData
Methodology 125
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