QUITO, Ecuador (AP) -- Ecuador's state oil company has signed a deal to explore natural gas reserves with its Venezuelan and Chilean counterparts.
Energy Minster Galo Chiriboga says the state company will hold a 60 percent stake in the joint venture it formed with Venezuela's PDVSA and Chile's ENAP.
Chiriboga hopes natural gas production will help diversify Ecuador's energy output, which is now mostly oil.
Ecuador has been said to have about 334 million cubic meters of gas, mainly in the Gulf of Guayaquil along its southern Pacific coast. The country now produces about 535,000 barrels of oil a day and relies on diesel fuel to generate electricity.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to email@example.com. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.