(Prensa Latina) - "The state control of Orinoco Oil Strip announced by Venezuela President Hugo Chávez give the country more profits for the commercialization of hydrocarbons.

The Executive signed the rule that establishes migration to mixed enterprises of the four associations operating in the region mentioned before devoted to improve extra heavy crude.

The measure gives involved foreign companies four-month term to negotiate with the Oil state Venezuela S.A: (PDVSA) the new entities´ conditions and other 60 days for the legislative approval.

This kind of action paves the way for an increment around 20 percent of PDVSA income once it achieves majority participation in Sincor, Petrozuata, Ameriven and Cerro Negro.

In those projects, the state entity is linked to transnationals like the US Conoco Phillips, Chevron Texaco, ExxonMobil, the British British Petroleum, Total of France and the Norwegian Statoil.

The associations presently process about 600 thousand barrels daily of extra heavy crude from which are obtained up to 600 thousand units of improved hydrocarbon".