OCP Ecuador has been operating for more than 16 years. How has it impacted the Ecuadorian economy?
OCP Ecuador has transported 855 million barrels of oil in 16 years, which represents USD47 billion of Ecuadorian exports. Each year, OCP Ecuador's operation represents 4% of the country's GDP. We invested USD1.47 billion in the construction of the heavy crude oil pipeline from 2001-2003, the largest private investment in Ecuador's recent history, which also generated around 16,000 jobs. Since the development of the pipeline, we have spent USD3.7 billion and paid around USD680 million in taxes. If OCP Ecuador did not exist, the country could not offer new oil concessions because there would be no transportation infrastructure.
What have been some highlights of your corporate social responsibility policy?
OPC Ecuador has invested USD45 million in social investments in around 700 community projects focused on health, education, and productivity. We always seek projects that follow specific goals in these fields so we can create value and growth in the communities through which the pipeline goes.
To what degree is this project an example of how sustainable initiatives can be developed in more sensitive areas of Ecuador that might be subject to oil production?
We have always had high environmental standards, so one result of the pipeline was the creation of higher environmental standards and certifications after our project started. Another strength we have as a company is that we are close to communities. We go through four provinces and have a good relationship with the community. There are always people who are not satisfied, but it is impossible to please every single individual. An example of this is that we did not suffer any impact from the October 2019 protests in Ecuador; that to some degree demonstrates we have a good relationship with local communities.