Statoil Sells Minority Stake in LL 652 Oil Field in Venezuela

Statoil Venezuela has agreed with Venezuelan state oil company Petroleos de Venezuela SA (PdVSA) on a settlement for Statoil's minority participation in the LL 652 oil field in Lake Maracaibo.

The settlement with PdVSA means that Statoil will no longer have a holding in this field.

The parties do not wish to disclose the details of the settlement.

"I'm pleased that we have found a solution for LL 652 which is mutually acceptable to Statoil and PdVSA," comments Thore Kristiansen, country president for Statoil Venezuela.

Statoil is operator for block 4 of Plataforma Deltana and also has an interest in Sincor, the most successful heavy crude project in Venezuela.

Mr. Kristiansen emphasizes that Statoil will continue its commitment in Venezuela, and says that the group is looking forward to evaluating new opportunities when they become available.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
Regional Manager - Saybolt
Expertise: Executive|Operations Management
Location: Linden, NJ
search for more jobs

Brent Crude Oil : $52.67/BBL 1.91%
Light Crude Oil : $51.6/BBL 2.60%
Natural Gas : $3.17/MMBtu 2.76%
Updated in last 24 hours