EP Petroecuador (Ecuador)

Empresa Estatal Petróleos del Ecuador (Petroecuador) became Empresa Pública de Hidrocarburos del Ecuador (EP Petroecuador) in April 2010. It was formed as a company with six business units. It focuses on the management of strategic sectors, the provision of public services, the sustainable use of natural resources and public goods and development of other activities. The company also manages the hydrocarbon sector, through exploration, exploitation, transport, storage, processing and marketing of hydrocarbons, on the national and international market. In 2010 Petroecuador took over from the company EDC the natural gas exploitation in Campo Amistad, located in the Gulf of Guayaquil. This was due to the fact that EDC failed to complete its contract to the government of Ecuador.