FERRERE Ecuador assited Schlumberger in an agreement with the Government

Consorcio Shushufindi S.A., a subsidiary of Schlumberger , signed a Memorandum of Understanding (MOU) with Ecuador and the Ecuadorian Ministry of Production, Employment and Competitiveness (“MCPEC” per its Spanish acronym), formalizing the company’s and the Ecuadorian Government’s intention to develop new investments at the Shushufindi-Aguarico Field, and in the near future in other areas of interest in the Ecuadorian oil sector.

This MOU symbolizes the trust that Schlumberger has in Ecuador and in the development of its energy matrix, as well as the Government’s intention to continue attracting foreign investments to the country.

Given the transaction’s importance for the corporation, the MOU was formalized with the presence of Schlumberger’s CEO, along with the Minister Natalie Cely.

Ferrere’s assistance was instrumental in negotiation of the MOU, as well as for the possible execution of investment agreements between Schlumberger and the Ecuadorian State.