Statoil's CEO Meets with Venezuelan President Hugo Chavez

Statoil is in a very good position to participate further in Venezuela's oil and gas activities. That was the message of the Venezuelan president Hugo Chávez when he met Statoil's president and CEO, Olav Fjell in Oslo on October 18th.

Statoil's experience and expertise have made the group a good cooperation partner for the PDVSA. "Statoil has already invested considerable sums in Venezuela, and we hope to be able to extend our cooperation, not least offshore on Plataforma Deltana", said Mr Chávez. He added: "We will prioritize Statoil and have many interesting projects to offer."

The president also invited Mr. Fjell to visit Venezuela when the Plataforma Deltana area licenses are awarded in December this year. Statoil has been invited to bid on blocks 3 and 4. Exploration drilling on Plataforma Deltana should be able to start shortly afterwards, according to Mr. Chávez.

Visiting Norway with Venezuela's minister of energy Rafael Ramírez, the president added that he was familiar with the way in which Norway had handled its oil revenues and said it was time to do the same in Venezuela.