from www.regenwald.org
KEY PLAYERS
Percentage Ownership by OCP Ltd.Consortium Members
Alberta Energy Ltd.(Canada)31.4 Percent
Repsol-YPF (Spain)25.69
Perez Companc (Argentina)15
Occidental Petroleum (USA)12.26
Agip (Italy)7.51
Techint (Argentina)4.12
Kerr-McGee Corp (USA)4.02

Financial Advisor:J.P.Morgan Chase
Financing Structure:Project Finance,$900 million 17-year loan
by Westdeutsche Landesbank (Germany)

Lead Arrangers of Line of Credit:Citibank and Deutsche Bank

OCP ’s Financial Backers
The pipeline contract awarded by the Ecuadorian Government to the
OCP Consortium is a 20-year BOOT concession (Build Own Operate
Transfer). On June 10,2001,the Consortium moved ahead to secure
project financing through a $900 million,17-year loan awarded by
Germany ’s Westdeutsche Landesbank. This Bank is planning to
syndicate the loan to a group of other major banks. In terms of
financing the line of credit for the individual consortium members,
Deutsche Bank and Citibank became Lead Arrangers for a $200 million
line of credit to Pecom Energia SA, a unit of Perez Companc SA for
the contract ’s down payment to the Ecuadorian Government.The
one-year credit line gives the necessary financial backing to Perez
Companc,the least financially stable member of the consortium to
participate in OCP ’s project finance deal. The letter of credit
was syndicated to the following banks:Bank Boston,BEAL and BNP
Paribas, as arrangers,and BLADEX, Hypovereinsbank and
Vereins-und Westbank, as participants.

P e r ez Companc was invited to join the OCP consortium as a result of
its discovery last May of approximately 300 million barrels of new
proven oil reserves in Block 31 in the Oriente basin in eastern
Ecuador, which Perez operates. Block 31,encompasses nearly 200,000
hectare (500,000 acres)in the heart of the Yasuni National Park.