Chinese-Canadian joint venture to operate Ecuador's largest oil field

Ecuador has granted a Chinese-Canadian joint venture the right to operate Sacha, the country's largest oil field, for 20 years, the government announced. "The Sacha field will not be privatized, it will not be sold nor rented,” the Ecuador's energy minister said. "The resource is and will remain the property of the Ecuadorian state, but now it will be operated more efficiently".