The concession of the Sacha field fell after President Noboa's ultimatum.

The concession of the oil field Sacha did not succeed after the Chinese-Canadian consortium Sinopetrol failed to make the advance payment of USD 1.5 billion, required by President Daniel Noboa. The deadline, set until 9:00 PM on March 11, 2025, ended without the transfer being completed.

Government sources confirmed that what was stipulated by President Noboa has been fulfilled, who had warned that non-compliance would close the negotiation. The measure is part of the government's policy to ensure fair and beneficial contracts for the state, especially in strategic areas like energy.

During the previous week, Sinopetrol expressed difficulties in making the payment within the required timeframe. The company attempted to request an extension, citing complications in gathering the amount, but the presidential decision remained firm.

The measure aims to ensure that state revenues respond promptly to the country's urgent needs, such as emergencies caused by rains and security challenges.

The consortium's investment proposal had also caused questions. It proposed an annual investment lower than that made by Petroecuador, which raised doubts about the positive impact on oil production.

Additionally, the percentage of participation that the consortium would have in the future extraction of crude was criticized, which could have reduced state revenue in the long term.

With this decision, the government of Daniel Noboa reaffirms its commitment to defending the country's strategic resources and transparency in concession processes.

The firmness of the Executive seeks to ensure that any delegation of natural resources is carried out under fair and favorable conditions for Ecuador.