Venezuela Resets Timetable For Orinoco Oil License Round
April 28 2009 - 7:25PM
Dow Jones News
Venezuela's oil minister met with foreign oil companies Tuesday
to brief them on the country's decision to adjust the timetable for
the opening of the oil-rich Orinoco region once again to foreign
investment.
Oil Minister Rafael Ramirez met with representatives from 19 oil
companies interested in bidding for several Carabobo blocks located
along the Orinoco river belt, the richest piece of oil real estate
in the country, state oil company Petroleos de Venezuela SA, PdVSA,
said in a statement. Ramirez informed the companies they will soon
receive a revised set of selection guidelines and a mock contract
to be used to draw up the eventual joint ventures with the
state.
Interested companies will now present their bids on July 28 and
the government will announce the selected partners on August 14,
the release said.
The companies present at the meeting included Brazil's Petrobras
Parcipaciones Ltd., a unit of Petroleo Brasileiro SA (PBR), and the
local units of Royal Dutch Shell (RDSA.LN), StatoilHydro (STO),
Total Oil (TOT), BP Plc (BP) and Chevron Corp. (CVX).
-By Raul Gallegos, Dow Jones Newswires; 58-414-120-5738;
raul.gallegos@dowjones.com