The people of Ecuador are rising up to refound their country as a pluri-national homeland for all. This inspiring movement, with Ecuador's indigenous peoples at its heart, is part of the revolution spreading across the Americas, laying the groundwork for a new, fairer, world. Ecuador Rising aims to bring news and analysis of events unfolding in Ecuador to english speakers.

Friday, August 10, 2007

Venezuela to Supply with New Techniques

Quito, Aug 9 (Prensa Latina) One of the oil agreements Ecuadorian President Rafael Correa and his Venezuelan counterpart Hugo Chavez will sign soon will provide Petroecuador with new technologies for crude-ripe fields.

Carlos Pareja, President of Petroecuador's state enterprise highlighted that that nation requires investment for new technologies that is precisely what Venezuela Oil (PDVSA) will give to improve the production of national crude.

He emphasized that oil extraction increased from 165 barrels daily, early this year to five thousand barrels in the last few days due to specialists' manoeuvres.

However, he alerted on the need of having forefront technology to increase production and improve situation in the crude-ripe fields like the Sacha, located in the Ecuadorian Amazon area.

Another agreement will be sign that will enable the construction of a refinery in Manabi province with processing capacity of 300 thousands barrels of oil daily at a cost of 5 billion dollars.

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