Ecuador postpones bidding round in Amazon basin

Ecuador has indefinitely postponed a bidding round aimed at ramping up oil production at four state-owned fields in the Amazon basin that have combined reserves of some 905 million bbl."This process has been declared void," said Eduardo Lopez, the country's new energy minister, after meeting Apr. 14 with the special bid committee to finalize the decision. Lopez said Ecuador would call a new bid soon once legal issues had been resolved, but he did not set a date.Ecuador had planned to accept bids until Apr. 20 to produce oil through 20-year contracts, but it had to consider canceling the tender after Atty. Gen. Jose Maria Borja questioned the legality of the type of contracts under off...

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