Venezuela Pitches Oil Contract to Kick Off Talks With Drillers
The contract sets terms for restarting wells, drilling new ones and settling disputes, while favoring the Venezuelan state on taxes and termination.
7 Articles
7 Articles
A new contract model establishes conditions for PDVSA to work with foreign companies to reactivate oil wells, drill new ones and market Venezuelan production
Venezuela Pitches Drilling Contract to Restart Oil Sector
Key Facts —The move: Petróleos de Venezuela (PDVSA) began circulating a model contract late last week to oil executives, advisers, and industry players, according to a Bloomberg report on May 15. The document lays out conditions for restarting existing wells, drilling new ones, and marketing the resulting production. —The legal frame: Venezuela’s National Assembly approved […] The post Venezuela Pitches Drilling Contract to Restart Oil Sector ap…
Venezuela Pitches Oil Contract to Kick Off Talks With Drillers
Venezuela’s national oil company has begun circulating a long-awaited proposed contract to energy companies interested in working in the Latin American nation, a key step toward reviving its crude production.
Petróleos de Venezuela S.A. (PDVSA) disseminated a document with companies in the oil sector, which would be a key contract project for the reactivation of oil wells throughout the country, a key step in raising crude oil production. According to agencies that were able to access the document, it establishes the conditions required by the state, [...] The entry PDVSA disseminates draft key oil contract for the reactivation of the industry with f…
The company Petróleos de Venezuela S.A. (PDVSA) would have started the distribution of a model contract to the energy companies that are interested in operating in Venezuela. According to Bloomberg, the document to which the international medium had access establishes the conditions for PDVSA to collaborate with the oil companies in the reactivation of the wells, [...] La entrada Bloomberg: Venezuela proposes an oil contract to start talks with …
Pdvsa’s framework agreement comes at a time of high oil prices and growing domestic pressure on the Venezuelan government
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