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Dow Jones – Ecuador To Submit New Model Oil Contract To Companies Friday

Date: Jul 30, 2010

Ecuador is planning to show new draft contracts to oil companies operating in the country:

Ecuador’s government plans to submit to private oil companies on Friday the model contract that will be used to exchange current production-sharing deals for service contracts. Negotiations with each company will start in the second week of August, the country’s minister for non-renewable natural resources said Thursday.

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