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Dow Jones – Ecuador’s Petroamazonas To Invest $844.2 Million In 2011

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Petroamazonas, owned by the government of Ecuador, announces plans to increase investments in oil production:

State run oil company Petroamazonas EP plans to invest $ 844.2 million this year in five oil blocks in the Amazonas region.

The Ministry of Non-renewable Natural Resources said Thursday in a press release that the planned investment will go to blocks 7, 15, 18 and 21 as well as for the development of block 31.

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