Weekly Report - 09 February 2012 (WR-12-06)

ECUADOR | Oil deals. “The biggest foreign investment in the history of Ecuador’s oil sector.” That is how the minister for non-renewable natural resources, Wilson Pástor, described an accord struck with the French-US company Schlumberger and Argentina’s Tecpetrol to invest nearly US$1.7bn to boost combined production in Ecuador’s two main oil fields - Shushufindi and Libertador – from 59,000 barrels per day (bpd) to between 70,000 and 90,000bpd over the next two years.