Andrade Gutierrez, PDV Marina Ink Shipyard MOU



Brazilian construction firm Andrade Gutierrez and PDV Marina, the sea transport subsidiary of Venezuela's state oil firm PDVSA, have signed a memorandum of understanding (MOU) for technical assistance to build a shipyard, PDVSA announced.

PDV Marina president and PDVSA's executive director for trade and supply Asdrubal Chavez signed the MOU with Andrade Gutierrez's industrial business director Pedro Antonio Dias.

The planned shipyard will be the first of its kind in Venezuela, able to build, maintain and repair large-tonnage vessels and offshore platforms.

"PDVSA is taking another step to export its crude and products at attractive costs towards such important markets as Asia while minimizing our dependence on international hydrocarbons transports, whose prices fluctuate constantly," Chavez said.

The shipyard is part of PDVSA strategy to transport more of its own products as well as increase offshore E&P in coming years, specifically for "free" natural gas in eastern and western Venezuela.

PDV Marina aims to transport 45% of all of the company's exports compared to 12% at present. Venezuela has or will commission 42 new oil vessels for that purpose, mostly to state-owned shipyards in Argentina, Brazil, China and Spain.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

RELATED COMPANIES