It will also mark the debut of a new oil and gas service contract model for the smallest member state of oil-trading coalition Opec.
The new regime was established after the government of President Rafael Correa declared oil a strategic asset subject to state control in 2008.
Wilson Pastor, minister of non-renewable resources, told about 100 attendees at a Houston Galleria hotel that Ecuador’s new licencing regime represented an “unprecedented” commitment to sustainable development in an “absolutely stable” and peaceful democratic nation.
“External
