French oil company asks Correa to intervene in debt

French oil company, Schlumberger, warned President Rafael Correa about the “financial stress” that he is overgoing because of lack of payment. Schlumberger, through a contract with Petroamazonas, is in charge of the production of the Shushufindi and Auca fields.

The debt the government maintains with the oil company of $1100 million dollars, “has generated an increase in additional external loans to finance their projects” explained the oil company`s president, Paal Kibsgaard, on March 14th.

Since there is no agreement with the hydrocarbon and financial authorities, Schlumberger`s manager asks the Ecuadorian President his personal intervention “to block this situation”.