Firms eye to invest USD2.12b in Ecuador's oil sector
(MENAFN) The government said that, firms from different countries plan to invest USD2.12 billion to develop oil fields in Ecuador's Amazon basin region, Gulf News reported.
Oil companies from China, France, the United States, Argentina, Colombia and Ecuador are going to work on expanding output on 17 fields considered mature, where there are reserves of some 227 million barrels.
The Vice President expressed his satisfaction about investing USD2.12 billion in the best area for oil production in Ecuador, saying that "it's great news.
The institutions involved are Franco-US Schlumberger; Argentine Tecpetrol and YPF; Colombia's Montecz and Edinpetrol; US firm Halliburton; China's Sinopec; and Ecuador's Sertecpet. Ecuador, Opec's smallest member, has total oil reserves estimated at 4.5 billion barrels. It produced 526,000 barrels per day in 2013 mostly through state oil concerns.
Oil companies from China, France, the United States, Argentina, Colombia and Ecuador are going to work on expanding output on 17 fields considered mature, where there are reserves of some 227 million barrels.
The Vice President expressed his satisfaction about investing USD2.12 billion in the best area for oil production in Ecuador, saying that "it's great news.
The institutions involved are Franco-US Schlumberger; Argentine Tecpetrol and YPF; Colombia's Montecz and Edinpetrol; US firm Halliburton; China's Sinopec; and Ecuador's Sertecpet. Ecuador, Opec's smallest member, has total oil reserves estimated at 4.5 billion barrels. It produced 526,000 barrels per day in 2013 mostly through state oil concerns.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment