An energy company in Ecuador has pledged to support oil and gas training in the country.

Speaking after an agreement was confirmed between Ivanhoe Energy Ecuador and Petroecuador to develop the Pungarayacu oil field, a representative for Ivanhoe said the firm was to aid training in the sector.

David Martin, executive chairman and chief executive officer of Ivanhoe Latin America, commented: "We are committed to assisting the national university with a skills training program to help ensure that we fulfil our expectation that Ecuadorians will hold more than 90 per cent of the jobs."

He added that the company would also support those Ecuadorians who wished to undertake oil and gas training in either the US or in Canada.

President of Ecuador Rafael Correa stated the Block 20 contract was "one of the most important" signed in the country's history.

Earlier this year, Ivanhoe announced it had signed an agreement with Talisman Energy Canada to buy oilsands assets in the Athabasca area of Canada.

Oil and Gas Directory: Training and Development