March 17, 2005
UK energy service firms eye Venezuela offshore

(Reuters) - "Venezuelan state oil firm PDVSA is looking to British and Northern European energy service firms with experience in North Sea drilling for help in exploiting its offshore natural gas fields, officials said.

Representatives from several British service companies and trade organizations met with PDVSA officials to discuss the OPEC nation's plans to develop its reserves offshore, an area where the giant state firm has little experience.

'Britain has a lot of technology to give from the North Sea. I think that what we are trying to find is a receptive market for U.K. products and technology,' Brian Foy, Vice Consul for U.K. Trade and Investment in Houston, said after a press briefing. British firms have been exploring and producing oil and natural gas in the harsh conditions of the North Sea for over 30 years.

Foy said the talks with PDVSA were just preliminary and no deals have been signed. Venezuela is seeking to develop its offshore natural gas reserves to feed a proposed liquefied natural gas (LNG) program. Much of the South American nation's gas reserves are concentrated in the Deltana region along the maritime border with Trinidad and Tobago".