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Alex Bravo, former head of Petroecuador, kept negotiations with an offshore company linked to a local contractor
Posted On 07 May 2016
A signed contract between two offshore companies domiciled in Panama and the Bahamas appears in the Panama Papers. The first is Girbra SA, established by former general manager of Petroecuador Alex Bravo Panchano, his wife and partner. The other is Arkdale Investments Limited, whose beneficiary is Juan Baquerizo Escobar, who was a shareholder and legal representative of the Ecuadorian contracting company Oil Services & Solutions S.A. (OSS), which has been awarded 15 contracts from the state oil company totaling $ 30.3 million.
The agreement is part of the so-called Panama Papers, a leakage of files from the Panamanian law firm Mossack Fonseca, published by the International Consortium of Investigative Journalists.
That contract stipulates that Arkdale gives oil services and that the Panamanian company Girbra is its representative in South America. The fixed fee is an initial payment of $ 600,000 and 10% of the bills collected by Girbra. At the bottom of the agreement the signature of Bravo as representative of the Panamanian company appears (I).
