Venezuela signs interim pacts with 8 companies as part of move to JVs

摘要

Caracas-Venezuelan state oil company PDVSA Aug 4 signed interim agreements with eight local and international oil companies,the first step toward turning their operating contracts into joint ventures with PDVSA.The companies,including Spain's Repsol YPF,China's CNPC and US independent Harvest Natural Resources,between them operate 13 of the 32 oil fields the government has pledged to convert to JVs by the end of this year.Over 500,000 b/d is produced under the 32 operating agreements.