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ECUADOR - Oil Investment to Increase

* ECUADOR

Oil Investment to Increase
Private oil firms will invest $417 million this year in the country

The Ministry of Non-Renewable Natural Resources revealed that private oil firms operating in Ecuador will invest $417 million in 2010, representing almost double the $212 million spent in the sector last year. According to information provided by the National Directory of Hydrocarbons, this figures correspond to the budgets of six private companies -- among these the Spanish-Argentine firm Repso -- for exploration and exploitation projects in the Amazon region this year. Oil is the nation's principal export product.
24-Feb-2010 03:02pm