November 16, 2017 |
Ecuador's oil ministry said in a statement it will settle a $300m debt payment with Schlumberger by the end of this month.
The announcement comes after the oilfield services provider said Ecuador's state-run oil unit Petroamazonas had missed a $350m payment due to Schlumberger.
Oil-exporting Ecuador will pay $100m in cash this month and spread out the remaining $200m over the next five years.
Schlumberger was owed roughly $1.1bn from Ecuador earlier this year, which the sovereign issuer has s
OPEC member firms its commitment toward a five-year $300m payment plan to the oilfield services provider