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Eni not to leave Venezuela, expect to resolve a dispute with Venezuela over taxes
Petroleumworld
CARACAS
Petroleumworld.com 04 27 06
Paolo Scaroni, the chief executive of the Italian oil company Eni, said that he expected to resolve a dispute with Venezuela over its decision to seize a field operated by Eni.
"There will be a happy end because we certainly want to stay in Venezuela," Scaroni said Saturday during an interview in Doha, according to news agencies stories.
Venezuelan on April 1 took over Eni's Dacion field, which produces about 50,000 barrels a day, over a row of unpaid taxes and a refusal to agree to the new regulations by a March 31 deadline that dictates that all oil companies under operating contracts would have to convert their operations to joint ventures or risk losing their fields .Eni wanted the Venezuelan government to "recognize" its investments in the Dacion field, Scaroni said. He declined to say what compensation the company is seeking.
The Venezuelan government of President Hugo Chavez last year said companies operating 32 fields for Petroleos de Venezuela would have to convert their operations to joint ventures or risk losing their fields if they do not agree to the new regulations by a March 31 deadline.Eni and Total were the only two companies out of 22 foreign oil producers operating in Venezuela that refuse to agree to the new regulations. Total also lost its field to the government.
Petroleumworld 04 27 06
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