PDVSA Absorbs 1,112 Rig Workers

Venezuela's state oil company PDVSA has employed 1,112 former operators of subcontracted drilling rigs, PDVSA said in a statement.

PDVSA this year nationalized drilling rigs and admitted difficulties in absorbing the former employees of the private rig operators.

More than 930 workers had been employed at 26 nationalized rigs in the west of the country, but PDVSA determined 1,356 workers were actually needed to run the rigs correctly.

An additional 244 workers are yet to be employed, but workers at the Corpoven-34 rig will be absorbed by PDVSA once their contract is fulfilled, according to the statement.

PDVSA said the majority of unions fully supported the company's nationalization of the rigs.

Nearly 70% of PDVSA's total budgeted investment will be directed and the nationalization will result in great savings for the company, according to the statement.

PDVSA said in July that it would invest US$3.5bn in the acquisition of new rigs.

PDVSA spends an average of 25.4mn bolivares (US$11,828 at the official rate) a day per rig to finance rigs operated by third parties compared to the 17.6mn bolivares it spends to operate each of its own rigs, BNamericas previously reported.

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