The Ministry indicated in a statement that together with other public entities it will lead the strategic management of hydrocarbon assets and resources for six months.

During the session of the Transition Committee, the Vice Minister of Hydrocarbons, Guilhermo Ferreira, said the transfer of the company that managed the OCP was orderly and transparent, which “strengthens energy sovereignty and guarantees the continuity of an efficient operation.”

Inaugurated in 2003, this pipeline transports oil from the fields in the north of the Amazon to the maritime and exporting terminal of Balao, running through 485 kilometers in the coastal province of Esmeraldas.

The pipeline is currently being ravaged by the erosion caused by the Coca River, prompting a temporary substitution with different alternatives, after being out of operation for several days.

The initial contract granted exploitation of this pipeline for 20 years, which ended on January 12, 2024, but the private company signed an extension thar lasted until November 30.

The National Association of Workers of the Energy and Oil Companies of Ecuador celebrated the temporary transfer of the OCP to the State, because it represents annual savings of 125 million dollars to the country, as it stops paying for transportation of crude oil.

Attorney Washington Andrade, who represents Antep and other organizations, said that now comes the verification of compliance, payment of labor liabilities, recovery of more than 100 million dollars of damages to the State and establishing accountability.

ied/oda/avr