Ecuador signs memorandum with Russian oil company

The Coordinating Minister for Strategic Sectors of Ecuador, Rafael Poveda, and the representative in Latin America of the Russian State Oil Company, Rosneft, Mikail Hrafinin, signed a memorandum of understanding to seek investment in the hydrocarbons sector in Ecuador.

“This is a strategic and complementary partnership of Russia and Ecuador, we have the willingness and political will to work with Russia and Rosneft,” said Poveda.

The Russian Ambassador to Ecuador, Yan Burliay, said “the world’s largest oil extraction company” comes to the Andean country “to share experiences and see the possibility of mutual cooperation.”

In the reunion, the Ecuadorian Leonardo Arizaga and Russian Sergei Ryabkov agreed to perform in the first quarter of next year the Third Meeting of the Ecuadorian-Russian Intergovernmental Commission on Economic and Trade Cooperation.