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China oil group buys EnCana asset in Ecuador
(Reuters)
Updated: 2005-09-15 07:13

"We knew, based on the experience of seeing other dispositions of this nature, that it would be a longer term disposition process," Jeff Wojahn, president of EnCana's Canadian plains division, told reporters at an energy conference in Toronto.

Proceeds from the sale will be used to cut debt and buy back shares.

Wojahn said Ecuadorean government approval for the sale could take three to six months.

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