Ecuador: Several State Oil Firms to invest in 490,000 acre oil concession

Posted on September 13, 2014 • Filed under: Ecuador, Enviromental Issues, Oil

wsj.com/Mercedes Alvaro reported Exploration in the 490,000-Acre Oil Concession to Start in January
State-run oil companies from Ecuador, Chile and Belarus plan to invest about $400 million to explore and develop the 490,000-acre Block 28 oil concession in southeast Ecuador.

Ecuador’s Petroamazonas will have a 51% stake in the project, while Sipetrol SA, a unit of Chile’s state-owned Empresa Nacional de Petroleo, or Enap, will own 42% and Belarus’s Belorusneft will have the remaining 7%. Read Article

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