OCP pipeline project gets green light from government

Jul 24, 2000 02:00 AM

The Ecuadorian president has signed the contract that triggers the project to set up the oil pipeline OCP (Oleducto de Crudos Pesados). The facility will allow the increase in the domestic crude oil capacity by 180,000 bpd of light oil and 170,000 of heavy oil, while OCP will be tendered to private investors that will erect and manage it for a given period of time before to pass it on to the oil company Petroecuador. OCP will absorb investments of around $ 700 mm

Source: Business Wire via Newspage
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