Venezuela slates second oil field revival round

Journal Article · Sun Dec 06 23:00:00 EST 1992 · Oil and Gas Journal; (United States)

OSTI ID:7009330

This paper reports that Venezuela will accept bids under a second round next year from private foreign and domestic companies for production contracts to operate marginal active as well as inactive oil fields. The first such round came earlier this year, involving about 55 other marginal, inactive fields. It resulted in two contractors signed with domestic and foreign companies. It represented the first time since nationalization of the petroleum industry in Venezuela in 1976 that private companies were allowed to produce oil in the country. A public bid tender was expected at presstime last week.

• OSTI ID: 7009330
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 90:49; ISSN OIGJAV; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
BIDS
CONTRACTS
DEVELOPING COUNTRIES
FOREIGN POLICY
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
INDUSTRY
LATIN AMERICA
MINERAL RESOURCES
OIL FIELDS
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
RESOURCES
SOUTH AMERICA
VENEZUELA