The development stages:In operation/2009-02.The investment is US$1.2bn.The Esmeraldas overhaul is designed to extend the life of the refinery by about 30 years and help it reach 100% capacity from current throughput of close to 90%. It will involve the revamp of catalytic equipment by installing a new reactor-regenerator system and updating all the plant's processing units. The initiative is expected to generate 1,000 jobs. An engineering studies and construction contract was awarded to South Korean firm SK Engineering & Construction in 2008.