Venezuela's
JV contract with oil companies to be analyze
by National Assembly this week
Petroleumworld
CARACAS
Petroleumworld.com
02 21 06
Venezuela's new joint venture contract model for hydrocarbons
contracts between private oil companies and state oil firm PDVSA
will get a revision this week by Venezuela's national assembly,
energy and oil minister and PDVSA president Rafael Ramirez told
reporters.
Private
oil companies are to migrate all 32 existing operating agreements
in the country to new joint ventures controlled by PDVSA. At present
operations are been operated under a transition scheme controlled
by special transitional technical committees to guarantee normal
operations until the new JV contract model takes effect.
The
minister said last week that the 32 operating agreements run by
22 companies will be reduced to 19 Joint Ventures.
The
minister added that in the case of Chevron operated 114.000 b/d
Boscan field, the government has decided that about 10,000 b/d
of the current production will be used in Venezuela to manufacture
asphalt and to be sold at a subsidized price of US$12/b "covering
only production costs" as part of a nationwide paving plan
instead of being exported.
The
32 fields previously under operating agreements are now under
a transition scheme controlled by special transitional technical
committees to guarantee normal operations and transition to the
new contract model. The contracts now under PDVSA control represent
combined production of some 532,000b/d.
Petroleumworld 02 20 06
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