Heavy Oil Investing News » Petroecuador seeks to develop Block20 Heavy Oil

Petroecuador seeks to develop Block20 Heavy Oil

August 25, 2008 @ 10:08 pm In Heavy Oil Company News

Petroecuador is in advanced discussions with Ivanhoe to develop heavy oil field in Ecuador's Oriente basin.

Luis Jaramillo, President of Ecuador's Petroecuador, said:

Ivanhoe Energy Inc., Vancouver, BC, would begin work within 9 months towards the production of heavy crude oil from Pungarayacu heavy oil field on Block 20 in Ecuador's Oriente basin, according to El Comercio.

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[1] here: http://www.ogj.com/display_article/337684/7/ONART/none/ExplD/1/Petroecuador-seeks-to-develop-Block-20-heavy-oil/