Petroecuador Begins Shutting Down Oil Wells at ITT Block

September 3, 2024--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--On August 28, Petroecuador (Quito, Ecuador) announced the start of the closure of the Ishpingo, Tambococha, and Tiputini oil block, known as the ITT Block or Block 43. This follows last month's statements from the ministers of energy and finance, who announced a years-long process to shut down the energy asset. Based on a constitutional court ruling, the oil company had a deadline of August 31 to start shutting down the asset.