Ecuadorian President Rafael Correa met with managers of two major Chinese oil companies in the ancient Chinese city of Xi'an on Friday, seeking joint exploration of Ecuador's oil resources.
Correa met with deputy managers from the China National Petroleum Corporation (PetroChina) and the China Petroleum and Chemical Corporation (Sinopec) on his week-long state visit to China.
The two Chinese companies revealed that they are in discussions with Ecuadorian companies on several deals to help upgrade Ecuador's outdated drilling facilities, improve refinery efficiency and train local technical personnel.
Correa also expressed hope that Chinese companies would participate in the construction of a new oil refinery in the coastal province of Manabi. The project is being undertaken by PetroEcuador, the national oil company, and Petroleos de Venezuela.
In February, one of PetroChina's subsidiaries signed a contract valued at 19.43 million U.S. dollars to provide services to PetroEcuador, The contract involved drilling, environmental evaluation, road construction and technological support. PetroEcuador said that this contract would enhance its crude oil production in the Amazon region.
Correa arrived in Beijing on Monday for a week-long state visit. He held talks with Chinese President Hu Jintao on Tuesday, and several documents were signed after the talks.
Ecuador is among the five largest oil producers in South America, with a daily production of 539,000 barrels, of which 69 percent are exported.
Source:Xinhua
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