CRS Resources (Ecuador) LDC (hereafter referred as CRS) was purchased by Sinochem Corporation from ConocoPhillips Co. of USA in 2003. The headquarter is located in Quito, the capital of Ecuador. Its asset concludes 14% of the rights and interests of Ecuador Block 16.

Ecuador Block 16 is located in the middle of Oriente Basin within Ecuador border, covering an area of 2,188 km². It consists of 7 oilfields which have been already put into production. After purchasing CRS, Sinochem took full advantages of its superiority in the technology of water-driving oilfield development, and strived to promote technological research, discuss with operators and take practical measures to increase the output of individual oil well, which has already acquired obvious results.

In recent year, the daily output of the oilfield has increased steadily and creates the highest historical record at present. In August 2007, the highest daily output exceeded 70,000 barrels.