Ivanhoe will no longer operate in Amazon´s block

Ivanhoe, a Canadian company, said that it refrained from exploiting an oil block in the Ecuadorian Amazon. This was adjudicated in 2009, with reserves estimated at 4,500 million barrels.

The company, despite having invested $ 74 million non-refundable, abandoned the project when ensuring that the field contained a heavier than expected crude.

The Ecuadorian State will seek a new foreign investor. According to Minister of Non-Renewable Resources, Pedro Merizalde, the Government is interested in negotiating with the National Oil Corporation of China.