Energy
State-run oil company Petróleos de Venezuela (Pdvsa) continued its expropriation spree by taking control of gas-compression companies, under the law which reserves goods and services related to hydrocarbons primary activities for the state.

A month after the entry into force of the legal instrument and after the seizure of 76 oil service companies, President Hugo Chávez announced the timetable that the government will follow to seize about 70 gas-compression units in 14 Venezuelan plants.

"We will continue moving forward and regaining the control, management and ownership of all the plants of the gas-compression units," Chávez said in a Cabinet meeting.

Pdvsa has already taken over and taken control of the Bachaquero 3 plant, located in west Venezuela.

Moreover, according to the timetable presented by Chávez, Pdvsa took on Wednesday control of the Production Division of the Orinoco Oil Belt. On Thursday, the government also took control of the Production Division of Venezuela's Eastern region. On Friday, Venezuelan oil officials will take over the Production Division of the Center-South region. Finally, on June 8, Pdvsa will take over medium and light oil mixed companies of the Eastern and Western regions of the country and Petrosucre.

During the seizure of the Orinoco Oil Belt units, Pdvsa announced that the measure will bring savings for the industry. It also announced the absorption of 16 workers.

"The Morichal District of Exploration and Production of the Orinoco Oil Belt had a leasing, operation and maintenance contract with the gas compression company Exterran, which included seven low-pressure compressors and two high-pressure compressors, to process 35 million cubic feet per day (...) which represented a cost of USD 210,000 monthly for the Venezuelan state-run oil company, said Pdvsa in a statement.

The takeover of the gas units occurs at a time when Pdvsa has failed to pay a USD 13 billion debt with suppliers and contractors. Some of the expropriated companies have not received any payment since last year.

Sources of the oil industry said that most of gas compressor units belong to the local subsidiary of US company Exterran. The firm had a stake in Wilpro, a subsidiary of US company Williams (a gas injection company located in the eastern part of Venezuela), which was nationalized some days ago.

Translated by Gerardo Cárdenas

Deisy Buitrago
EL UNIVERSAL