Ecuador seeks compensation for non-exploitation of oilfield

The Government of Ecuador will wait up to one year to see if the international community offers to compensate the country for not developing a major oilfield in the heart of the Ecuadorian Amazon. President Rafael Correa and his government say that if the international community can compensate the country with half of the forecasted lost revenues (US$350 million per year), Ecuador will leave the oil in Yasuni National Park undisturbed to protect the park’s biodiversity and the indigenous peoples living there.

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