No deal yet: Ecuadorean Oil Minister Galo Chiriboga
Ecuador deal not reached with Petrobras
Ecuador's Oil Minister Galo Chiriboga said Petrobras has not closed preliminary negotiations with the Ecuadorean government for a new exploration contract in the country.
Chiriboga confirmed that he submitted modified contracts to a group of private companies last week that have a one-year term and that outlines the conditions for re-negotiations.
The minister informed the Brazilian newspaper Folha de Sao Paulo that Petrobras did not receive the modified contracts because “it was not possible to close (preliminary) negotiations with the Brazilian company”.
He also said that it was necessary to re-open negotiations with Petrobras as well as with France’s Perenco since they did not come to an agreement with the government.
“Ecuador wants a larger quantity or companies working with us&but if this were not possible then we would find mechanisms to, in mutual agreement, conclude the contracts,” said Chiriboga.
Ecuador produces more than 500 thousand barrels per day of crude, said Latinforme.