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Venezuela pushing Exxon Mobil to accept PDVSA majority in La Ceiba Field
Petroleumworld
CARACAS
Petroleumworld.com 11 09 06
Venezuela Energy and Oil Minister Rafael Ramirez said Wednesday, that PDVSA is negotiating with ExxonMobil and Petro-Canada to give Venezuela's oil company PDVSA a majority stake in the promising La Ceiba oil field before beginning commercial production.
Exxon and Petro-Canada are partners in La Ceiba Field and each hold a 50% stake in the project.La Ceiba Field is operated under a profit and sharing agreement by the Venezuelan Energy and oil Ministry. Exxon operates the field.
La Ceiba Fields is plan to have for 2007, an average production around 20,000 barrels a day, but Ramirez said it will only give the go ahead if PDVSA can own at least 51% of the project.
"They have to adjusts to current laws," Ramirez told reporters.
La Ceiba block 136-thousand-acre area on the southeastern shore of Lake Maracaibo. Preparations for commercialization options are being evaluated and waiting for the venezuelan government to authorization
Petroleumworld 08 11 06
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