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Ecuador's energy minister, Carlos Perez, said Ecuador and Peru could jointly develop oil and gas resources
owned by the two neighbors, Reuters reported on October 12.
Perez also said the partnership could involve Ecuador's national oil and gas company Petroamazonas' gas field
in Peru.
"We can set up a joint venture between the national oil companies Petroamazonas and Petroperu and a private company to bring in capital," the official said
in an interview with Reuters.
Ecuador has been eager to attract more private investment into its oil and gas industry to boost production
, which has been declining recently.
While not a major producer — it is the smallest member of OPEC — the Andean country plans to boost its daily output to 590,000 barrels
per day next year from the current 520,000 barrels per day.
He also plans to speak at the cartel meeting in December to support higher OPEC production
.
"Ecuador wants to be able to increase production because of national interests, which will be our view
at the upcoming OPEC meeting.
" Perez said
.
Ecuador's energy minister, Carlos Perez, said Ecuador and Peru could jointly develop oil and gas resources
owned by the two neighbors, Reuters reported on October 12.
Perez also said the partnership could involve Ecuador's national oil and gas company Petroamazonas' gas field
in Peru.
"We can set up a joint venture between the national oil companies Petroamazonas and Petroperu and a private company to bring in capital," the official said
in an interview with Reuters.
Ecuador has been eager to attract more private investment into its oil and gas industry to boost production
, which has been declining recently.
While not a major producer — it is the smallest member of OPEC — the Andean country plans to boost its daily output to 590,000 barrels
per day next year from the current 520,000 barrels per day.
He also plans to speak at the cartel meeting in December to support higher OPEC production
.
"Ecuador wants to be able to increase production because of national interests, which will be our view
at the upcoming OPEC meeting.
" Perez said
.
