Ivanhoe Energy to Terminate Ecuador Contract

Source: El Comercio newspaper 8/26/2014, Location: South America

Petroamazonas oil company is in the process of terminating a contract with Canada's Ivanhoe Energy, officials said. Ivanhoe has held a 30-year oil exploration contract in Ecuador's Amazon jungle, at a price of $37 per barrel.

"We are currently in the process of terminating the contract with Ivanhoe" and "thinking of how to redefine exploration and find more investors," Petroamazonas manager Oswaldo Madrid told the El Comercio newspaper.

Pedro Merizalde, the South American country's minister for non-renewable resources, was quoted by the same publication as saying that the government hoped to start talks with the China National Petroleum Corporation instead. El Comercio newspaper "We hope that, within the next two months at the latest, we'll have a basis for negotiations with the state-owned company CNPC," the minister said. El Comercio newspaper He added that Ivanhoe, which had invested in the Amazon project, was not entitled to any compensation. El Comercio newspaper Ecuador, an OPEC member state, produced 526,000 barrels per day in 2013, with the majority through public companies.


United Kingdom >>  8/8/2022 - The Operator of PEDL241, Egdon Resources U.K. Limited, has filed an appeal on behalf of the Joint Venture partnership against Lincolnshire County Coun...
Colombia >>  7/29/2022 - Petrobras confirms the discovery of natural gas accumulation in the Uchuva-1 exploratory well, drilled in deep waters of Colombia, 32 kilometers off t...

Ireland >>  7/29/2022 - Europa Oil & Gas, the AIM traded UK, Ireland and Morocco focused oil and gas exploration, development, and production company, has announced that the ...
United Arab Emirates >>  7/29/2022 - Abu Dhabi National Oil Company (ADNOC) announced today a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offsho...

Gambia >>  7/28/2022 - FAR Limited an independent, Africa focused, oil & gas exploration company, provides its quarterly activities report for the quarter ended 30 June 2022...
Norway >>  7/27/2022 - Neptune Energy today announced drilling has commenced on the Ofelia exploration well in the Norwegian sector of the North Sea.

The well,...


Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.