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Venezuelan oil minister: "Some firms have been reluctant" to migrate to joint ventures
Petroleumworld
CARACAS
Petroleumworld.com 06 12 07Rafael Ramírez, Venezuelan Minister of Energy and Oil and president of Venezuela's oil company PDVSA, said on Sunday in television, some foreign oil companies that by June 26 are due to fully migrate to joint ventures where the Venezuelan State holds a majority stake "have been reluctant to negotiate."
In an interview by a TV channel, Ramírez reminded that in 2006, during migration from operational agreements to joint ventures, "two corporations, namely Eni and Total, refused to accept the terms established by" the Ministry of Energy and Petroleum.
"I think the State has restated its authority and capacities, and that is clear for companies."
Last May 1, PDVSA took over joint ventures in Orinoco oil belt and shared risk and profits exploration agreements. Through its affiliate CVP, the holding is expected to hold a minimum stake of 60 percent in these projects.
"The next landmark is June 26, when the stakes of the companies that are to adopt the form of joint ventures will be defined, for subsequent consideration by the National Assembly and they have two month to work the partnership details."
"All of the operations of the strategic partnerships and shared risk and profits exploration agreements are fully controlled by PDVSA, under our laws."
Conoco Phillips, Exxon Mobil and Chevron, Total, Statoil, are among the firms participating in the migration process.
Petroleumworld 11 06 07
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