Watching the World: Ecuador seeking private capital

Ecuador's energy minister, Eduardo Lopez, may soon unveil a proposal to reform state-run Petroecuador as the company seeks to attract more private-sector investment. Lopez's mentioned the proposal as Ecuador's energy and mines ministry called on 18 prequalified companies to bid for service contracts on four oil and gas fields operated by Petroecuador in the country's Amazon area.Production in Shushufindi, Lago Agrio, Culebra-Yulebra, and Auca fields, currently operated by Petroecuador, has declined in recent years due to lack of investment. The government wants to attract foreign capital to boost production.Production target Investments are estimated at $397 million. The i...

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