GS Engineering&Construction
537 Namdaemun-ro
5ga, Gung-gu,
Seoul, Korea
May 9, 2011
Atenci6n: Ing. Marco Calvopifia Vega
Gerente General de la EP Petroecuador
Quito, Ecuador
CC: Honorable Jorge Glas Espinel
EI Ministro Coordinador de los Sectores Estrategicos
aturales
Renovables
Letter of Interest
I am pleased to issue this Letter of Interest to EP Petroecuador in good faith for the purpose of expressing
our strong interest in arranging financing and performing EPC for the projects currently being considered
by EP Petroecuador regarding upgrading of Refineria Esmeraldas and upgrading/expansion
Shushufindi.
Corporation
of Refineria
Corporation
Corporation
of Japan (the
Consortium), I would be most interested in discus ing in detail the aforementioned projects being planned
by EP Petroecuador
During the visit, we would also like to di cu s in detail various financing options that may be
explored to successfully fund the projects. Depending on estimated budgets for each refinery, we
would like to explore if the two project
program.
GSE&C
3.
GS Engineering&Construction
537 Namdaemun-ro 5ga, Gung-gu, Seoul, Korea
For the record, the Consortium of the three companies have previously worked closely with KEXIM (Korea Export-Import
(Japan Bank for International cooperation) and received Letter of Intent from those two agencies
for the previous Refineria Esmeralda
4.
Modernization project.
Upon conclusion of our visit, we would like to elevate the engagement and issue an official Letter
of Intent to further the cooperation for successful implementation of the two projects.
5.
The role defined currently for the members of the Consortium is as follows:
EPe: GS Engineering & Construction of Korea and Chiyoda Corporation of Japan
Financing Arrangement and Packaging:
6.
7.
During the visit, we would also like to receive up to date information on the Refineria Pacifico
project to explore potential participation in financing and EPC in anyone of the blocks or phases.
Henry J. Jeong/General
and Caribbean
E-mail: Henrxieong@gscon
Richard C. Bertsch,
t.co.kr
Sumitomo Corporation