Petrobras's 500m for Equador

摘要

Brazil's state-owned Petrobras plans to invest US 500m in Ecuador between now and 2009, though the figure could rise if new projects are approved. Petrobras' chief executive Jose Sergio Gabrielli said the investment may be higher, as the firm is interested in helping Ecuador develop the mammoth Ishpingo-Tambococha-Tiputini (ITT) fields, which are also located within the Yasuni Park. Reserves are estimated at more than 1 Bn bbl of oil, and development could cost 5 Bn.