China, Ecuador Sign Oil Contract

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Last updated at: (Beijing Time) Saturday, August 30, 2003

China, Ecuador Sign Oil Contract

China and Ecuador Friday signed a contract to explore oil deposits in Ecuador.

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China and Ecuador Friday signed a contract to explore oil deposits in Ecuador.

The contract was inked by representatives of the China National Petroleum Corporation and the Ecuador Ministry of Energy and Mines.

Ecuador's President Lucio Gutierrez said at the signing ceremony that the expertise and technology of Chinese companies are reliable, adding that he hoped the cooperation would be fruitful.

Lucio Gutierrez arrived here Thursday noon, on the second leg of his China tour, which started Monday.

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