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Article: Perenco Warns That Suspension of its Contracts With Ecuador is Imminent due to Ecuador's Refusal to Comply With International Arbitration Tribunal Orders
- Article from:
- U.S. Newswire
- Article date:
- July 14, 2009
CopyrightCopyright 2009 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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To: FOREIGN EDITORS
Contact: Rodrigo Marquez, Perenco Group, +44-20-7901-8200
LONDON, July 14 /PRNewswire/ -- Perenco Ecuador Limited ("Perenco
Ecuador") and its consortium partner, Burlington Resources Oriente
Ltd. ("Burlington"), today announced that suspension of their
participation contracts with Ecuador is imminent unless the
Government of Ecuador complies with orders of two international
arbitration tribunals that prohibit the Government from seizing oil
produced by the consortium.
Perenco Ecuador is the Operator of Blocks 7 and 21 in Ecuador. On
February 19, 2009, the Republic of Ecuador and its oil company,
Empresa Estatal Petroleos del Ecuador ("Petroecuador"), commenced a
coercive ...