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    Ecuador Signs Deals Worth $1.62Bn for Development of 6 Oil, Gas Fields - Reports

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    MEXICO CITY (Sputnik) - The government of Ecuador, represented by the state-run Petroamazonas energy company, signed investment contracts worth $1.62 billion for the development of six oil and gas fields, local media reported.

    The contracts concern the Cuyabeno-Sansahuari, Yuralpa, Oso and Blanca-Vinita fields, located in the provinces of Orellana, Napo and Sucumbios.

    Under the deals, the contractors would fund the development projects, while Petroamazonas would pay for their services in line with tariffs tied to WTI crude oil price, the Telegrafo newspaper reported on Friday.

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    The government had also reconsidered its contracts on the Shushufindi and Pardeliservices consortia, which would allow it to receive the additional investment of $895 million in the projects, the outlet added.

    Over the past months, the authorities of Ecuador have been seeking to attract foreign investment to boost oil production.

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    oil, projects, investment, contracts, production, gas, Ecuador
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