Chile and Ecuador to Join Efforts in Oil Search, Exploitation

Chile and Ecuador to Join Efforts in Oil Search, Exploitation

March 14, 2008 Filed Under: Lead Mining, Mining Services, Oil and Gas  

Chile and Ecuador will join in exploring for oil in the Gulf of Guayaquil, visiting Ecuadorean President Rafael Correa said Monday.

“We want to share the existing resources with friendly countries,” Correa told a joint press conference with Chilean President Michelle Bachelet.

No details on the plan were immediately made public, but Chile’s Mining Ministry said in a communique that work will be carried out jointly by Chile’s state oil company ENAP and Petroecuador.

Arriving in Chile early Monday, Correa said he wants to restore diplomatic relations with Colombia but made clear that will take time, despite the recent agreement that resolved the crisis triggered by a Colombian military attack on guerrillas in Ecuadorean territory.

Ecuador broke relations with Colombia in the wake of the attack that killed Raul Reyes, the No. 2 commander of the Revolutionary Armed Forces of Colombia.

“One thing is restoring diplomatic relations, another thing is trusting a person who did not act in an adequate manner,” Correa said, referring to Colombian President Alvaro Uribe.

“The important thing is that for the sake of the Colombian people, for the sake of the Ecuadorean people, we manage to restore those relations as soon as possible,” the Ecuadorean leader added.

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