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Ecuador & UNDP Sign Agreement to Evaluate 5 Projects in Hydrocarbons

Source: www.gulfoilandgas.com 12/22/2017, Location: South America

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The Ministry of Hydrocarbons, the United Nations Development Program (UNDP) and EP Petroecuador signed a Cooperation Project to carry out an international technical evaluation of five projects managed by Petroecuador, in order to strengthen its technical and financial management.

The projects that will be evaluated are:
Esmeraldas Refinery
Low Liquefaction LPG Plant
Terminal of Dispatch, Reception and Storage of GLP of Monteverde
Poliducto Pascuales Cuenca
Pacific Refinery

The main objective of this Project is to have a specialized and international technical criterion that, in an impartial manner, determines the current situation of the projects and, if applicable, the measures that must be undertaken to bring them in line with international standards, as well as as the estimate of the corresponding costs.

It is expected that the reports of this international technical evaluation will be ready in approximately 150 days. This commitment responds to the directive of President Lenin Moreno and his purpose of achieving effective and transparent public management, as indicated in the National Development Plan 2017-2021.

The Agreement was signed by the Minister of Hydrocarbons, Carlos Pérez, the Resident Representative of the United Nations Program for Development, Arnaud Peral and the General Manager of EP Petroecuador, Carlos Tejada. The President of the Board of Directors of the Public Company Coordinating Company, Edison Garzon, also attended the ceremony.

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