PdVSA and PetroEcuador enter into agreement

Oct 20, 2007 02:00 AM

State-run oil holding Petroleos de Venezuela (PdVSA) and its Ecuadorian counterpart PetroEcuador are to execute a R&D agreement to ascertain the amount of new hydrocarbons deposits in Ecuador.
PdVSA drilling and development Vice-President Luis Vierma released the news.

Vierma explained that, on the Venezuelan side, the agreement will be signed by a PdVSA delegation that will head for Ecuador.
"Based on the outcome, outstanding projects will be established and implemented," said the official. He added that the ministers of energy of Ecuador, Venezuela and Colombia will meet to discuss the issue of oil exploration and the possible addition of Ecuador to the Transoceanic Gas Pipeline.

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