QUITO Oct 8 Ecuador's oil production increased
by 4.1 percent to 47.4 million barrels in the second quarter of
this year, compared with the same period in 2012, the central
bank said on Tuesday.
The rise was driven by better performance from
Petroamazonas, the operations division of state oil company
Petroecuador, which the bank said increased output by 7.8
percent to 35.3 million barrels between April and June.
"These increases can be attributed to the investments made
by the government during 2011 and 2012, and to the changes that
were made to production policies," it said in a report.
The contribution of private companies to Ecuador's total oil
output fell by 5.4 percent in the second quarter of this year to
12 million barrels, the bank said.
Ecuador, an OPEC nation, exported 32.6 million barrels
during the second quarter, it said, which were worth a total of
just over $3.1 billion at an average price of $95.64 per barrel.
The government of President Rafael Correa revamped Ecuador's
oil field contracts in 2010 by ordering joint venture partners
to become service contractors. Since then, Correa has focused on
boosting oil output through heavy state investment.