Murphy Oil’s operations in Latin America and the Caribbean are presently limited to Suriname after the company sold its assets in Ecuador to Repsol YPF, S.A. earlier in 2009. Murphy Oil and the Ecuador government had been at loggerheads over the latter’s decision to change participation contracts into service provider agreements.
This was the right decision, to sell the assets, and one that was favorable financially for our shareholders, David Wood, Murphy Oil’s president and chief executive officer said.
Earlier pumping estimates for 2009 included full year 2009 volumes from Ecuador of 6,000 b/d, David Wood said.
