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Ecuador Political News

EFE – Correa: Modern Oil Field Heralds “New Era” for Ecuador

Ecuador President opens new oil field in the Amazon rainforest:

The leftist president, who took office in January 2007, said of the first large-scale oil project launched during his tenure that it is a “symbol of the citizens’ revolution” he is leading.

The field – located in the Amazon province of Sucumbios between the vast natural reserves of Cuyabeno and Yasuni – is expected to produce some 25,000 barrels per day over the next three years, although authorities say additional finds could raise its current proven reserves of 42 million barrels.

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