International Oil Firms Move on Ecuador

International Oil Firms Move on Ecuador


Ivanhoe Energy Ecuador recently signed a contract with state-owned companies Petroecuador and Petroproduccion to develop the Pungarayacu field. Ivanhoe says capital requirements will be about $20m during the first year and a total of $110m for the first 3years of appraisal. Ivanhoe also says that international oil companies have expressed interest in participating in the project. It does not name them, but some of the international players in Ecuador are Sinopec and CNPC from China, AGIP from It

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