Assembly Receives PDVSA JV Contracts for Final Vote

The energy and mines committee of Venezuela's national assembly sent on Tuesday the definitive contracts between state oil firm PDVSA and 12 foreign and domestic oil companies for the operation of 17 oilfields to be voted on the assembly floor in a full session, Caracas daily El Universal reported.

The assembly is scheduled to meet on Thursday. The contracts cover joint ventures between PDVSA (where the state firm is to have at least 60%) and British Petroleum for the DZO and Boqueron fields, Chevron (Boscan and LL-652), Argentina's Compania General de Combustibles, China's CNPC, US independent firm Harvest Vinccler, French-British firm Hocol, local companies Inemaka and Open, France's Perenco, Brazil's federal energy company Petrobras (Mata, Acema, Oritupano and La Concepcion), Spain's Repsol YPF and Anglo-Dutch major Royal Dutch Shell.

The remaining contracts - eight according to the article, but nine as far as BNamericas has been able to establish - are to be the subject of further discussion inside the committee, the article said.

If "irregularities" are found, the said contracts will be sent back to the energy and oil ministry with observations so they can be corrected, committee president Angel Rodriguez was quoted as saying.

Committee approval is mandatory for the contracts to be voted on.

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