Harvest and Corporación Venezolana del Petroleo will own the fields via their 40/60 stake in Petrodelta, a hint of the mechanics of change in store for other Venezuela players.
Harvest shares in Petrodelta via its “affiliate” Harvest Vinccler, which now transfers its rights in the Uracoa, Tucupita and Bombal field to Petrodelta. In June, the Venezuela National Assembly approved the direct award of the Isleno, Temblador and El Salto fields to Petrodelta, a company understood to not yet legally exist.
The last june, 20 2007 Petrodelta will operate the fields for 20 years, during which oil and gas will be sold to the Venezuelan state champion and the last june, 20 2007 when Harvest announced award from venezuelan oil fields.
Via: Scandinavian Oil & Gas
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