PDVSA delays Carabobo tender to July 28

Bnamericas Published: Wednesday, April 29, 2009
Venezuela's state oil company PDVSA announced further delays to its Carabobo tender for seven heavy oil blocks in the Orinoco belt. Bids are now due on July 28, and winners will be announced on August 14, PDVSA said in a statement. Offers were to have been due on April 16, but delays have been widely expected by the industry. Venezuela's oil and energy ministry launched the round last year. Besides creating JVs to operate the seven new blocks, the round also calls for the construction of several heavy crude upgraders with capacities around 200,000b/d. PDVSA said in December that 19 companies had purchased the US$2mn data package for the round. While PDVSA will require at least a 60% stake in any JVs formed from the tender process, the company is expected to ask JV partners to finance at least 30% of its share. PDVSA said it would announce details on the contract model in the coming days. A meeting recently took place for firms participating in the process, according to the statement. Companies in attendance included: BP (NYSE: BP); Chevron (NYSE: CVX); China's CNPC and Sinopec; Colombia's Ecopetrol (NYSE: EC); Italy's Eni (NYSE: ENI); Portugal's Galp; Japan's Inpex, Jogmec and Mitsubishi; India's ONGC, Brazil's Petrobras (NYSE: PBR); Malaysia's Petronas; Spain's Repsol (NYSE: REP); Royal Dutch Shell (NYSE: RDS-B); Norway's StatoilHydro (NYSE: STA); France's Total (NYSE: TOT); Venezuela's Suelopetrol; and a consortium of unnamed Russian oil firms.

To continue reading, subscribe to BNamericas to get all the information in this article and access to related news items and reports.

Subscribe to BNamericas and gain access to thousands of project profiles, key contacts and news.

Other projects in: Oil & Gas

Get critical information about thousands of Oil & Gas projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: Oil & Gas (Venezuela)

Get critical information about thousands of Oil & Gas companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Mitsui de Venezuela, C.A.  (Mitsui Venezuela)
  • Mitsui de Venezuela is a subsidiary of the Japanese company Mitsui & Co. The company is focused on investments of companies, development and management of projects in the areas ...
  • Company: Cardon IV S.A.  (Cardon IV)
  • Cardon IV S.A. is a 50:50 JV between Spanish multinational energy corporation Repsol and Italian global oil and gas company Eni, and is the license holder and operator of the Ca...
  • Company: PetroCarabobo S.A.  (PetroCarabobo)
  • PetroCarabobo is a JV between Venezuelan state oil firm PDVSA alongside foreign oil firms Repsol S.A., ONGC Ltd., Reliance Industries Ltd., Oil India Ltd. and Indian Oil Corp. I...
  • Company: PDV Caribe S.A.  (PDV Caribe)
  • PDV Caribe S.A. is the company tasked with organizing and coordinating Petrocaribe's hydrocarbon transportation network, including its vessels, storage facilities, and port term...
  • Company: Y&V Ingeniería y Construcción C.A.  (Y&V)
  • Y&V is a Venezuelan company engaged in the areas of engineering and construction, operation and maintenance, and environmental management, specializing in the oil, petrochemical...
  • Company: Tecnoconsult S.A.  (Tecnoconsult)
  • Tecnoconsult S.A. is a Venezuelan company engaged in engineering, procurement, construction and construction management, operation and maintenance, and logistic services. It ser...