Ecuador to grant more autonomy to ex-Oxy unit

QUITO, Dec 18 (Reuters) - Ecuador will transform a unit operating the former Occidental Petroleum (OXY.N) oilfields into a state-run corporation to give it more autonomy, the unit's manager told Reuters on Tuesday.

Wilson Pastor, the head of the unit operating the 100,000 barrels-per-day oilfields, said Petroecuador's board on Tuesday approved turning the temporary unit into a corporation under the name of Petroamazonas Ecuador S.A..

He said state oil firm Petroecuador and its production arm Petroproduccion will own Petroamazonas, but that the new corporation will have administrative and operational independence.

"This corporation will have its own financial logic... meaning that the decision-making and hiring process of services will be made like a private firm," said Pastor in a phone interview. "Basically we will work as Occidental did with the fields but under the ownership of Petroecuador."

He added that there will be no changes to the unit's top executives.

The oilfields are expected an average output of 100,000 bpd in 2008, according to Petroecuador officials.

Ecuador terminated its contract with Occidental and took over its assets in 2006 after accusations the company sold part of an oil block without state approval. Occidental filed an international arbitration against Ecuador. (Reporting by Alonso Soto; Editing by Marguerita Choy)