Petroamazonas shores up oil investments with new contracts

Petroamazonas shores up oil investments with new contracts

Corporate & Sovereign Strategy Economy & Policy Ecuador

Ecuador’s Petroamazonas has penned three new contracts with local and Venezuelan firms and renegotiated terms of two existing contracts to maximize oil production in the region. According to the state-backed company, up to $1.6bn in investments will enable Ecuador to increase its oil production by 89m barrels during the 15-year term of operation. Petroamazonas said its expects an additional income of $1.8bn until 2032. Through its oil & gas bidding process, Petroamazonas secured $727m to dev

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