Ecuador: Experts state little margin for error in bio-diverse region set for oil development

Posted on July 26, 2014 • Filed under: Ecuador, Enviromental Issues, Oil reported Ecuador’s controversial plans to develop oil fields in the Amazon jungle can be successfully brought to fruition but there is little margin for error in that bio-diverse region, according to experts taking part in an international forum in this capital. They reached that conclusion at the “Applying the Best Technologies in Extremely Sensitive Environments” workshop that was organized by the Society of Petroleum Engineers and concludes Thursday. The ITT project – whose name come from the initials of its three oil fields, Ishpingo, Tambococha and Tiputini – partially overlaps the Yasuni National Park, one of the planet’s most bio-diverse regions. Ecuador’s government revived the project last year after saying the international community “failed” the country by not funding a scheme that would have compensated it for not developing ITT. Read Article

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