Venezuela Resets Timetable for Orinoco Oil License Round


Orinoco Heavy Oil Belt
(Click to Enlarge)

CARACAS (Dow Jones Newswires), Apr. 29, 2009

Venezuela's oil minister met with foreign oil companies Tuesday to brief them on the country's decision to adjust the timetable for the opening of the oil-rich Orinoco region once again to foreign investment.

Oil Minister Rafael Ramirez met with representatives from 19 oil companies interested in bidding for several Carabobo blocks located along the Orinoco river belt, the richest piece of oil real estate in the country, state oil company Petroleos de Venezuela SA, PdVSA, said in a statement. Ramirez informed the companies they will soon receive a revised set of selection guidelines and a mock contract to be used to draw up the eventual joint ventures with the state.

Interested companies will now present their bids on July 28 and the government will announce the selected partners on August 14, the release said.

The companies present at the meeting included Brazil's Petrobras Parcipaciones Ltd., a unit of Petroleo Brasileiro SA (PBR), and the local units of Royal Dutch Shell (RDSA.LN), StatoilHydro (STO), Total Oil (TOT), BP Plc (BP) and Chevron Corp. (CVX).  

Copyright (c) 2009 Dow Jones & Company, Inc.

Related Companies
 Company: BP plcmore info


 - Billionaire Ratcliffe Hunts Oil to Repeat Chemicals Empire Build (May 24)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
 - BP Sees Early Promise, Growing Investment In Mexico Energy (May 17)
 Company: Petrobrasmore info


 - Petrobras Sees Room For More Efficient Payroll, CAPEX (May 12)
 - Petrobras Eyes Adding Texas, African Assets to Asset Sale Plan (May 10)
 - Exxon, Petrobras Said to Hold Talks on Wide-Ranging Partnership (May 9)
 Company: Shellmore info


 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
 - Shell Shareholders Reject Emissions Target Proposal (May 23)
 - Saudi Aramco Said to Make Leadership Changes Ahead of IPO (May 16)
 Company: Total S.A.more info
 - ExxonMobil, Total Discuss Offshore Drilling Opportunities In Greece (May 19)
 - Total Expands Oil Search Offshore West Africa With Mauritanian Deal (May 12)
 - Exxon, Petrobras Said to Hold Talks on Wide-Ranging Partnership (May 9)
 Company: Chevron Corporationmore info
 - Venezuela Oil Executive Arrested in Corruption Probe (May 23)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
 - Shell Shareholders Reject Emissions Target Proposal (May 23)
 Company: PDVSAmore info


 - Venezuela Oil Executive Arrested in Corruption Probe (May 23)
 - Fuel Shortage Again Hits Oil-rich Venezuela Amid Refinery Woes (May 17)
 - PetroVietnam Says Venezuela Oil Project Still Stalled, Hopes To Reactivate (May 3)
 Company: StatoilHydromore info


 - Samsung Heavy Industries Lands Statoil FSU Construction Contract (Sep 14)
 - First Movers in Eco-Drilling: Going 'Dope'-less (Apr 25)
 - StatoilHydro Delays Hammerfest LNG Start Up (Nov 23)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Lead Logistics Specialist
Expertise: Logistics Management
Location: Denver, CO
 
Lead Logistics Specialist
Expertise: Logistics Management
Location: Denver, CO
 
Senior Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $54.15/BBL 0.51%
Light Crude Oil : $51.47/BBL 1.45%
Natural Gas : $3.22/MMBtu 3.30%
Updated in last 24 hours