Ecuador inaugurates Venezuelan oil rig, plans to further deepen oil ties

Ecuador's President Rafael Correa inaugurated a Venezuelan oil drilling rig in the Amazon jungle on Thursday, and announced plans to deepen energy integration with its fellow South American nation.Under an agreement reached last August, Venezuela will rent two oil rigs and provide Ecuador with technicians at a discounted price. The first rig was inaugurated Thursday and the second rig will arrive in March. In a speech at the site, Correa thanked his close ally Venezuelan President Hugo Chavez and said Venezuela's support was not offered «to dominate and expand a political model, but rather as an openhanded offer of support and solidarity.