The Minister of Energy Juan Carlos Bermeo was a participant in the Ecuador Open for Business event that takes place today and tomorrow in Quito
Authorization for the sale of Repsol shares to the Canadian New Stratus Energy (NSE) in Spain and therefore for this company to participate in the operations of blocks 16 and 67 in the Amazon it was granted by the Ministry of Energy a week and a half ago. Likewise, the Ministry hopes to carry out a reopening of the mining cadastre in January 2022.
These were the two most important announcements made this morning and afternoon by the Minister of Energy and Non-Renewable Natural Resources, Juan Carlos Bermeo, within the framework of the Ecuador Open for Business, which seeks to attract investment for the hydrocarbon, mining, hydroelectric, wind and photovoltaic energy sectors, as well as social issues.
On the first issue, the minister confirmed that the Ministry authorized the sale in Spain of the shares between Respol and New Stratus Energy. It is a subject that generates the payment of a transfer premium equivalent to one million dollars. According to the minister, this does not mean a change of operator, and he pointed out that the Ministry made a request that the change not represent any type of labor instability for current Repsol employees in the country. The NSE company has said that it will seek to invest about $ 200 million to increase oil production.
Meanwhile, Bermeo announced that in January 2022 it is expected to reopen the mining cadastre that has remained in moratorium, at least for four years. He gave this news in the forum on mining that was held a few minutes ago.
The minister said that Ecuador is open to mining and that the sector has the support of the state. He also explained that prior to the closing of the cadastre, 506 procedures to be resolved. Then, a solution will be sought and later create a Virtual tool that allows better management of mining titles. This will be done thanks to a $ 70 million loan from the IDB.
In the same forum, the main executives of companies such as Lundin Gold, Ron Hochstein; de PHP Keenan Jennings y Marshal Koval, CEO de Lumina, They talked about their experience in Ecuador and the importance of responsible mining. They spoke about its positive impacts both on the economic issue and on the community.
Ecuador expects to close 2021 with a level of mining exports reaching $ 1,600 million. (I)
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