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.