SINOPEC TEAMS UP WITH PETROLEOS DEL ECUADOR
AsiaInfo Services, March, 2007
AsiaInfo Services 03-27-2007 Sinopec Teams up with Petroleos Del Ecuador BEIJING, Mar 27, 2007 (SinoCast via COMTEX) -- China Petrochemical Corporation (Sinopec Group), one of the nation's largest oil refiners, has reached an agreement with Petroleos Del Ecuador on the exploration of the latter's Ishpingo-Tambococha-Tiputini (ITT) oilfield, revealed a senior executive of Sinopec Group days ago. Besides the two companies, Petroleo Brasileiro S.A.-Petrobras and Empresa Nacional del Petroleo (Enap) are also the participators of the joint oil exploration project. Through an open auction, the Ecuadorian company finally chose the four as its partners. The investment in the project is expected hit USD 5 billion in total, according to Sinopec Group. The geologic...
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