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EFE – Petroecuador, PDVSA Extend Contract for Ecuador Oil Field

Date: Nov 3, 2011

News about Petroecuador, the state owned oil company which has accepted 100 percent responsibility for all oil operations in the former consortium managed area, now the subject of the Chevron Ecuador trial:

Ecuadorian state oil company Petroecuador and Venezuelan counterpart PDVSA have signed a new contract for the joint development of a field in Ecuador’s Amazon region despite non-compliance with investment commitments under the previous deal.

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