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Anadarko mull sale of Venezuela assets
Petroleumworld
CARACAS
Petroleumworld.com 14 11 06
Anadarko Petroleum said it could sale of assets in Venezuela due to the ownership changes it suffer in the property were Anadarko will only have 18% stake.The company said in its 10Q report, released Thursday, that it is 'currently analyzing its options, including a possible sale' of the assets.
Anadarko's interests in Venezuela, include a 45% stake in the Oritupano-Leona contract area. In 2005, the company's net oil sales volumes from the 395,000 acre area totaled 5 million barrels.
The company's Venezuelan represented about 1% of its income from continuing operations before income taxes.
The assets had been governed by an Operating Service Agreement (OSA), but this was change after the Venezuelan Government in 2005 force all the OSA companies to renegotiate and change the operations to a joint venture with Venezuela's oil company PDVSA, were PDVSA has 60% stake in the companies and becomes the operator of it.
Petroleumworld 13 11 06
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