Ecuador
Press Release

Economic Development Commission knows the progress of the merger of Petroamazonas and Petroecuador

Bnamericas
Economic Development Commission knows the progress of the merger of Petroamazonas and Petroecuador

This National Assembly release was published using machine translation.

The Economic Development Commission received Diego Tamariz, manager of the Temporary Fusion Unit of Petroamazonas and Petroecuador, who explained how the process of integration of the two state-owned companies is going.

He indicated that the Temporary Fusion Unit manages with the IDB the hiring of a consultancy to help with the diagnosis of the sector and the conceptual design of the new company. Likewise, he pointed out that in order to carry out the process, he has coordinated with the two companies, so that this cause is carried out diligently and transparently. Within this framework, 22 work tables were formed where information was generated, it was the basic configuration of the processes and the risk analysis.

He stressed that this process should be carried out without interrupting the operation of either company. "We have made the respective steps with the companies and government entities so that the process does not alter the operation of the companies," he said.

When asked by the assembly members about the monthly salary of the officials of that Temporary Unit, he pointed out that for salaries, $ 61,000 is allocated for 12 people, although initially $ 90,000 was contemplated in the budget. He said the Temporary Fusion Unit will end in December and the workers have no dependency relationship.

He also stressed that the role of the Unit is not the operational management of companies. "We have no interference, we only prepare the basis for a new company," he said.

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Oil & Gas (Ecuador)

Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Block 83
  • Current stage: Blurred
  • Updated: 4 years ago
  • Project: Block 29
  • Current stage: Blurred
  • Updated: 6 years ago
  • Project: Block 22
  • Current stage: Blurred
  • Updated: 5 years ago

Other companies in: Oil & Gas (Ecuador)

Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Equitatis S.A.  (Equitatis)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Agip Ecuador S.A.  (Eni Ecuador)
  • Eni Ecuador, based in Quito, is a branch of the Refining & Marketing Division of the Italian firm Eni; and it is aimed at the national trading of LPG for household, commercial a...
  • Company: OCP Ecuador S.A.  (OCP Ecuador)
  • Oleoductos de Crudos Pesados Ecuador S.A. (OCP Ecuador S.A.) is a private Ecuadorian company aimed at the transport, storage and delivery of crude oil. Since 2003, OCP Ecuador S...